Politics
Just In: President Bola Tinubu Urges German Chancellor To Invest In Nigeria’s Strategic Industries (Details)

President Bola Tinubu has called for German investment in crucial sectors of the Nigerian economy, such as electricity and rail transport.
During a meeting with German Chancellor Olaf Scholz on Monday in Berlin, outside the G20 Compact with Africa Economic Conference, Tinubu emphasized the need for German involvement in growth-enabling businesses related to transportation, energy, and the entire spectrum of electric power generation, transmission, and distribution.
The President expressed a desire for a renewed sense of urgency in implementing the Presidential Power Initiative, which has Siemens’ support. Tinubu stressed his commitment to the Siemens power project and highlighted the potential for skill development opportunities for Nigerian youth.
Tinubu also proposed that Siemens contribute to Nigeria’s rail network by providing advanced trains and railroads, drawing parallels with Siemens’ ongoing project in Egypt, where it is constructing a 2,000 km ultra-high-speed rail network spanning 60 towns.
In response, German Chancellor Olaf Scholz acknowledged his readiness for collaboration but pointed out that addressing financial and administrative obstacles related to governance issues within the sector is crucial for progress.
Additionally, Tinubu raised concerns about value-added processing in Nigeria’s solid minerals, agriculture, automotive industry, and other sectors that generate employment, bringing these issues to the attention of the German leader.
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