During their meeting on the sidelines of the G-20 summit in New Delhi, India, German Chancellor Olaf Scholz expressed his recognition of the ongoing reforms in President Bola Ahmed Tinubu’s administration and pledged to visit Nigeria in October to strengthen economic ties. Ajuri Ngelale, President Tinubu’s spokesperson, shared this development in a statement issued on Sunday.
Scholz conveyed his country’s desire to expand its partnership with Nigeria and said, “Thank you for this important discussion, Mr. President. I appreciate this opportunity to advance our economic relations. Your market is unique, and our companies have a history in Nigeria. We acknowledge the business-friendly reforms you have put in place. I am happy to inform you of my desire to visit you in Nigeria in October, which will allow us to carry forward these initiatives.”
In response, President Tinubu emphasized that their discussions went beyond designing the financial framework for an expanded economic partnership. He highlighted the importance of aligning the perspectives of large-scale German manufacturers, such as Volkswagen, with the incentives his government was implementing to facilitate their success across various sectors within Nigeria.
After meeting with the German leader, President Tinubu engaged in talks with South Korean President Yoon Suk Yeol, who commended Tinubu’s regional leadership. Yoon Suk Yeol said, “I wish to commend your strong leadership, following the peaceful transfer of power to you from your predecessor, and we see a stable country in West Africa that is growing in stature.”
Tinubu then expressed his desire for greater involvement of South Korean companies in Nigeria, particularly in the local manufacturing sector. He stated, “We will leave nothing unresolved. We will finalize our agreements and take immediate action. We will work methodically with you to secure rapidly implementable Memorandums of Understanding (MoUs) across various partnership sectors, involving the active presence of your largest firms. This encompasses not only Nigerian consumption but also local Nigerian production, spanning from telecommunications and technology to oil & gas.”