Tinubu calls for German investment in key areas

President Bola Tinubu called for German investment in Nigeria’s key economic sectors, such as electricity and rail transport.

Tinubu made the request during a meeting with German Chancellor Olaf Scholz in Berlin on Monday outside the G20 African Economic Conference, according to a statement issued by Presidential Spokesperson Ajuli Ngerale.

According to the President, German investment is needed in key businesses that will enable growth, such as transport, energy, power generation, transmission and distribution.

The President said new urgency is needed to address the uneven and sporadic implementation of the Siemens-backed Presidential Power Initiative.

“For my part, I am very keen to pursue all aspects of the Siemens power project and the skills development opportunities it creates for talented young people who can participate in sustaining the industry,” Tinubu said. .

He added that Siemens can contribute to Nigeria’s rail network by supplying state-of-the-art trains and railways, just as it is building a 2,000km ultra-high-speed rail network spanning 60 towns in Egypt. Ta.

German Chancellor Olaf Scholz said he was ready for this, but to move forward the financial and administrative hurdles caused by governance issues in the sector needed to be addressed. Ta.

Mr. Tinubu raised the issue of value-added processing in Nigeria’s solid minerals, agriculture, automobile industry and other job-creating sectors with the German leadership.

Source: dailypost.ng

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