In a business session held at the State House in Abuja, President Bola Tinubu reaffirmed Nigeria's commitment to expanding investment opportunities in the energy and solid minerals sectors. Speaking to German business leaders during the State Visit of German President Frank-Walter Steinmeier on Wednesday, President Tinubu emphasized that Nigeria is ready to remove administrative bottlenecks, paving the way for increased collaboration with Germany in both traditional and renewable energy industries.
The President welcomed Steinmeier’s visit, calling it a significant milestone in strengthening ties between the two nations. He underscored Nigeria's transformative journey, aligning itself with global best practices for good governance and fostering an environment conducive to foreign investment. "Germany is renowned for its sustainable infrastructure, and we are eager to continue our partnership, particularly in energy. We have abundant natural resources, and Germany has the technology to help us harness them," President Tinubu said.
The President noted that key ministries, including Foreign Affairs, Solid Minerals, Power, and Industry, Trade and Investment, have been tasked with collaborating closely with international investors to advance the nation's energy sector. He reiterated the importance of leveraging Nigeria's vast natural resources, particularly in gas and solid minerals, to enhance industrial growth and create jobs.
"Energy is central to Nigeria’s development," President Tinubu stated, highlighting opportunities in renewable energy such as solar power. "We are committed to transforming our economy with long-term, sustainable reforms. Our youth population is eager to learn and contribute to this vision."
German President Steinmeier assured the Nigerian leader of Germany's continued support, noting that there is growing interest among German companies in expanding operations in Nigeria, particularly in renewable energy. He emphasized that specialized companies beyond the major energy brands are keen to explore opportunities in the country.
Minister of Solid Minerals Development, Dele Alake, highlighted Nigeria's vast reserves of critical minerals such as cobalt, nickel, and lithium, which are essential for the global energy transition. He called on German investors to take advantage of Nigeria’s improved security, tax incentives, and joint venture opportunities under the President’s Renewed Hope Agenda.
Other Nigerian officials, including Minister of Finance Wale Edun, Minister of Industry Dr. Jumoke Oduwole, and Minister of Power Adebayo Adelabu, also participated in the session, showcasing Nigeria's openness to foreign investment and its strategic goals for economic transformation.
The event concluded with both Nigerian and German business delegations expressing optimism about the future of bilateral trade and investment, particularly in energy and solid minerals, and commending President Tinubu's efforts to reposition Nigeria as a globally competitive economy.
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