Nigeria’s President, Bola Ahmed Tinubu, addressed the ongoing G20 Compact With Africa Summit in Berlin, expressing Nigeria’s readiness to attract strategic investments that will propel the nation towards sustained growth and development.
During the first panel discussion, themed “Fostering Local Value Chains and Investment In Africa-The Role Of The German Private Sector,” President Tinubu emphasized the need for a deeper comprehension of African data, particularly focusing on Nigeria’s high population density. He stressed the importance of genuine commitment to establishing assembly plants, manufacturing automotive components, and making substantial investments within Nigeria.
President Tinubu highlighted Nigeria’s abundant human capital, particularly its highly educated and energetic youth population, as a valuable resource that offers immense potential to attract investors. He emphasized the demographic advantage and committed to upholding the rule of law, assuring potential investors that their investments will be secured in Nigeria.
Furthermore, he pledged to capitalize on the opportunities presented to Africa by Europe to transform the continent’s economic landscape and ensure sustainable growth.
In addition to President Tinubu’s remarks, the President of Cote D’Ivoire, Alassane Ouattara, stressed the significance of Nigeria’s success in propelling the entire West African region towards prosperity. He emphasized the need for trade partnerships among African countries and urged German enterprises to invest in training local talent to enhance production capabilities.
President Macky Sall of Senegal emphasized the importance of collaboration with Europe, emphasizing Africa’s readiness to engage in business with Germany and other European countries. He advocated for increased access to the global market to advance the African continent.
German Chancellor Olaf Scholz, the host of the G20 Compact With Africa Summit, conveyed a vital message to German investors, emphasizing the significant potential inherent in Africa and advocating for increased Foreign Direct Investment in the continent. Similarly, CEO of Siemens Sub Saharan Africa, Sabine Dall’ Omo, articulated the opportunities available for investing in Africa and developing new technologies as a means to address global challenges such as climate change.
The first panel session concluded at 11 am CET, with participation from 18 African countries, including Egypt, Ethiopia, Benin, Côte d’Ivoire, Ghana, Morocco, Rwanda, Senegal, Togo, and Tunisia, all of which are members of the CwA.
