G-20: Tinubu Meets German, Indian Leaders, To Align With German Investors

President Bola Ahmed Tinubu has revealed that his G-20 meeting with the German Chancellor Olaf Scholz is to harness the opportunities to expand economic development ties with Nigeria and to bring back to life, the effective execution of old agreements.

Brand News Day reports that the Nigerian President made this known in a statement, on Sunday, through his Media aide, Ajuri Ngelale adding that Tinubu met with the German Chancellor, South Korean President as well and the Indian Prime Minister at the G20 summit.

This online news platform noted that this is part of President Tinubu-led administration’s moves towards deeper economic bilateral ties by Nigeria with other countries.

The report said the president’s meeting with the German Chancellor suggested a unique opportunity to expand ties of prosperity for the people of Nigeria.

The statement reads in parts: “It is not, for us, only a matter of designing the financial architecture for an expanded economic partnership.

‘’It is also about the practicality of aligning the perspectives of your large-scale manufacturers, such as Volkswagen and others, with the reality of the new incentives my government is putting in place for them to come and prosper across multiple value chains and sectors inside of our country”.

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Scholz responded by acknowledging the mutually beneficial nature of an escalation in the scale of economic ties with Nigeria.

According to Scholz: “Thank you for this important discussion, Mr. President. I appreciate this opportunity to advance our economic relations. Your market is unique and our companies have a history in Nigeria.

‘’We acknowledge the business-friendly reforms you have put in place. I am happy to inform you of my desire to visit you in Nigeria in October, which will allow us to carry forward these initiatives”.

In his meeting with Yoon Suk Yeol, the Korean leader praised President Tinubu’s regional leadership in upholding democratic tenets and norms.

“I wish to commend your strong leadership, following the peaceful transfer of power to you from your predecessor and we see a stable country in West Africa that is growing in stature,” the South Korean President said.

President Tinubu explained his vision to the South Korean leaders citing proposals for an enhanced South Korean presence in Nigeria.

His statement reads in full: “We will work point by point with you to secure rapidly implementable MoUs across sectors of partnership that will involve the active presence of your biggest firms, not just in terms of Nigerian consumption, but in local Nigerian production, from telecommunications to technology, and oil and gas”.

The South Korean President told Tinubu that Nigeria’s education, technology and energy sectors are of interest to South Korean investors and that he will mobilize his business community to take advantage of new Nigerian incentives for local industry.

On his path, Indian Prime Minister, Narendra Modi, who had invited Nigeria to the G-20 Summit, said, both Nigeria and India must now stay close to detail their priority areas of upscale cooperation with respect to agriculture, defence industries capacity building, and even FinTech growth.

‘’I see your commitment. We believe there are immense prospects for Nigeria in the UPI (Unified Payments Interface) and we will ensure that we come together and make progress on these fronts very rapidly.

‘’Nigeria has the local players who can drive it from the front,” he added.

President Tinubu concluded, “There are many lessons our nation can learn from the rapid progress that India has made under your leadership.

‘’We see fantastic opportunity between our nations across sectors, such as agricultural development, but specifically, there is more we can do to advance ICT innovation and the emergence of Blue-Chip FinTech growth in Africa.