Tinubu calls for German investment in Nigeria's energy industry

President Bola Ahmed Tinubu has called for German investment in Nigeria’s energy industry, particularly in the production of natural gas and hydrogen.

Tinubu had a series of insightful conversations with German Chancellor Olaf Scholz on Monday at the G20 Agreement with African Economies in Berlin.

The President also met with German Federal President Frank-Walter Steinmeier in a discussion focused on attracting German investment in rail transport in Nigeria.

In a statement, Senior Special Assistant to the President on Media and Publicity, Mr. Temitope Ajayi, said Mr. Tinubu also expressed his commitment to promoting the Presidential Power Initiative (PPI) in Nigeria, supported by Siemens.

Mr. Ajayi further said that the President highlighted other opportunities in solid mineral processing, agriculture and automobile production.

“Today, we are persistent in pursuing natural gas development alongside tomorrow’s hydrogen production. The world knows that Nigeria is a leader in the energy sector, with vast gas deposits and businesses in place. The right environment makes us an attractive investment destination,” Tinubu said.

“But we are now going a step further. We are reforming financial institutions to respond quickly to foreign investment, as well as creating fiscal responsibility and tax reforms.

“We are enthusiastic and ready to partner with you. Africa has the youngest, largest and most vibrant youth population in Africa.

“Likewise, we have all the ingredients necessary to form a modern economy: an educated population, a large market, and the political will to bring it all together under my leadership.” is.

“Africa has moved beyond the misguided notions of the past that discouraged business and did not adhere to the rule of law. fully aware of the relationship.

“We want to partner on the basis of who we are and what we do, not on the basis of long-standing misconceptions.”

Mr. Ajayi said Mr. Tinubu also addressed local value chain investors at the G20 African Economic Conference, reiterating that educated youth are a critical factor for economic growth and key to attracting foreign investment. added.

Source: guardian.ng

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