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Tinubu Meets With Leaders Of Germany, South Korea, India To Discuss Investment

Published

1 year ago

Sep 11, 2023.

Eko Hot Blog reports that President Bola Tinubu has met with leaders of Germany, South Korea, and India in an effort to woo them into investing in Nigeria.

Tinubu, who was the first head of state to arrive at New Delhi for the G20 summit, held talks with German Chancellor Olaf Scholz, South Korean President Yoon Suk Yeol, and Indian Prime Minister Narendra Modi.

In his meeting with Scholz, Tinubu said that Nigeria is designing a financial architecture for an expanded economic partnership with Germany. He also said that Nigeria is orchestrating its economic policies to align with large-scale manufacturers like Volkswagen.

Scholz acknowledged the “business friendly” policies of Tinubu and said that he plans to visit Nigeria in October.

With Yoon Suk Yeol, Tinubu stressed the need for partnership in the areas of production, telecommunications, technology, and oil and gas.

“We will leave nothing hanging,” Tinubu said. “We will finalise what we agree to and we will execute. 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.”

Tinubu also met with Modi and discussed the tremendous development in India under his leadership. He said that Nigeria can learn a lot from India’s rapid progress.

“We see fantastic opportunity between our nations across sectors, such as agricultural development,” Tinubu said. “There is more we can do to advance ICT innovation and the emergence of Blue-Chip FinTech growth in Africa. Nigeria has the local players who can drive it from the front.”

Modi said that the teams of both countries must now stay close in touch to detail their priority areas of cooperation.

“I see your commitment,” Modi said. “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.”

Apart from these three leaders, Tinubu also had discussions with U.S. President Joe Biden; Ursula Von Der Leyen, president of the European Commission (EC); and Ajay Banga, the president of the World Bank.

The president’s efforts to woo foreign investors come as Nigeria faces a number of economic challenges, including high inflation and a depreciating currency.

Tinubu has said that he is committed to improving the country’s economy and creating jobs. He hopes that by attracting foreign investment, he can help to achieve these goals.

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