Nigeria’s President Bola Ahmed Tinubu has solicited for German investment in Nigeria’s energy industry, particularly in natural gas and hydrogen production.
Tinubu made this appeal on Monday during his fruitful discussions with the German Chancellor Olaf Scholz at the G20 Compact with Africa Economic Conference in Berlin.
The President also held a meeting with the German Federal President Frank-Walter Steinmeier, where they explored the possibilities of attracting German investment in Nigeria’s rail transportation sector.
According to a statement by the President’s media aide, Temitope Ajayi, Tinubu also expressed his determination to fast-track the Siemens-supported Presidential Power Initiative (PPI) in Nigeria.
Ajayi added that the President showcased other opportunities in processing solid minerals, agriculture and automotive production.
Tinubu said, “We are dogged in our pursuit of natural gas development today, in tandem with hydrogen production for tomorrow. The world knows Nigeria as a leader in the energy sector. Our vast gas deposits and business-friendly environment make us an attractive investment destination.
“We want to partner on the basis of who we are and what we do, rather than on the basis of long-held misconception.”
Ajayi further stated that at the G20 Compact with Africa Economic Conference, Tinubu also addressed investors on local value chains and reiterated that Nigeria’s young, educated population was a crucial element for economic growth and key to attracting foreign investment.