In Berlin, Germany, President Bola Tinubu emphasized to global investors that beyond Nigeria’s abundant natural resources, its people stand as the nation’s foremost asset and advantage in the global race for fresh investments. Speaking at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz, Tinubu highlighted the educated, skilled, and industrious nature of Nigerians as pivotal to the country’s competitive edge on the global investment stage.
Addressing a panel discussion titled “Fostering local value chains and investments in Africa – The role of the German private sector,” President Tinubu underscored the vitality of Nigeria’s youth population and well-educated populace in attracting foreign investments. He articulated that Nigeria’s youthfulness, market size, and educational standards are pivotal factors that drive the country’s potential for economic resurgence, comparable to China’s growth trajectory.
While emphasizing the nation’s strides in the energy sector and its appeal as an investment destination due to substantial gas reserves and conducive business environments, Tinubu also highlighted ongoing fiscal and tax reforms aimed at expediting foreign investments. He emphasized Nigeria’s readiness to partner with investors, boasting of a vibrant youth population and necessary economic components under his leadership.
The President showcased Nigeria’s shift toward labor-intensive sectors for job creation, alongside a focus on technological advancement in the expanding information and communications technology sphere. He assured potential investors of a transformed economy with flexibility in capital movement and reinforced stability in the country’s socio-political landscape.
Tinubu extended invitations to German automobile firms to consider manufacturing plants in Nigeria while urging German businesses to explore diverse investment sectors, particularly following German Chancellor Olaf Scholz’s successful visit to Nigeria in October.
Earlier, Chancellor Scholz recognized the evolving global economic dynamics and positioned Germany to strengthen partnerships with Nigeria and Africa, fostering mutually beneficial relationships between developed and developing nations.