President Bola Ahmed Tinubu assured German investors of the Federal Government’s focus on expanding investment opportunities in Nigeria’s energy and solid minerals sectors.
This assurance was given during a meeting with German President Frank-Walter Steinmeier at the State House, Abuja.
In a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu emphasized efforts to address administrative challenges and improve the environment for foreign investments.
“I welcome Mr. President to Nigeria and the State House. Your visit is a significant milestone. Nigeria is undergoing a transformative period, aligning with global best practices in governance and industrialisation. We value our relationship with Germany as friends and partners,” Tinubu said.
The President highlighted Nigeria’s willingness to work with Germany in the energy sector, particularly in alternative energy sources. “We have the sun, and you have the technology. Let’s strengthen our partnership to leverage this,” he added.
President Tinubu also spoke on reforms across key ministries, including Solid Minerals, Power, Foreign Affairs, and Industry, Trade and Investment, to support investors. He mentioned opportunities in natural resources like lithium, which are essential for energy transition, and emphasized industrialisation and skill development.
“Our reforms are designed to deliver long-term benefits through dependable frameworks. Bottlenecks have been removed to ensure investments are seamless, projecting growth in gas, alternative energy, and other sectors,” he stated.
President Steinmeier expressed Germany’s interest in Nigeria, particularly in renewable energy. He assured Tinubu of Germany’s readiness to explore partnerships beyond established brands like Siemens and encouraged more German companies to invest in Nigeria.
The Minister of Solid Minerals Development, Dele Alake, highlighted Germany’s €1 billion fund for diversifying the renewable energy supply chain and urged German investors to consider Nigeria’s deposits of minerals like cobalt, nickel, and lithium.
Other ministers, including Wale Edun (Finance), Dr. Jumoke Oduwole (Industry, Trade and Investment), and Adebayo Adelabu (Power), also discussed economic reforms during the meeting.
Both the German and Nigerian business delegations commented on economic cooperation between the two nations. They noted the impact of reforms in streamlining foreign exchange and improving the ease of doing business.
