We’ve made it easy for you to invest in Nigeria — Tinubu to German Businessmen
President Bola Ahmed Tinubu, on Wednesday in Abuja, reassured the German government and business leaders of the ease of doing business in Nigeria, highlighting the country’s ongoing reforms aimed at fostering investment.
The President made the remarks during a business session at the State House, attended by his cabinet members, as part of the State Visit of German President Frank-Walter Steinmeier. Tinubu invited German businessmen to invest in Nigeria, noting that the administration is addressing administrative bottlenecks, particularly in the energy and solid minerals sectors.
In his address, President Tinubu welcomed President Steinmeier to Nigeria and thanked him for the warm reception he had received during his visit to Germany. He emphasised the mutual benefits of strengthening bilateral ties between the two nations, saying, “We need each other, and you emphasised this in our private discussion. Nigeria is going through a transformative period and trying to align with the best strategies and practices in global governance.”
The President further stressed Nigeria’s commitment to collaboration with Germany, particularly in sectors such as energy, where he welcomed Germany’s support in renewable and alternative energy. “We have the sun, and you have the technology,” Tinubu said, reinforcing the potential for continued cooperation.
The President revealed that key ministries, including Foreign Affairs, Solid Minerals, Power, and Industry, Trade and Investment, have been tasked with working closely with investors to develop the energy sector. He also reiterated the government’s focus on enhancing industrialisation through the exploration of natural resources.
“Our transformation involves natural gas, and we are leveraging solid minerals, particularly lithium,” he added. “We have a dynamic, eager-to-learn youth population, and we are committed to fostering long-term prosperity through sustainable frameworks.”
President Tinubu further mentioned the importance of Small and Medium Enterprises (SMEs) in driving economic growth and reassured investors that bottlenecks to investment have been removed.
In his comments, President Steinmeier acknowledged the growing interest in Nigeria from German businesses, noting that several specialised companies, beyond the prominent energy sector players like Siemens, were exploring investment opportunities, particularly in renewable energy.
The German President also expressed confidence in Nigeria’s potential for energy diversification, with the country’s abundant reserves of critical minerals like cobalt, nickel, and lithium, which are essential for the energy transition.
In his presentation, the Minister of Solid Minerals Development, Dele Alake, highlighted Germany’s dedicated one billion Euro fund for diversifying the renewable energy supply chain. He encouraged German companies to explore opportunities in Nigeria’s solid minerals sector under President Tinubu’s Renewed Hope Agenda, which he said has created an enabling environment through improved security, tax incentives, and joint venture opportunities.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; and Minister of Power, Adebayo Adelabu, were also present at the business meeting.
The German business delegation and their Nigerian counterparts commended President Tinubu for his visionary leadership, which they said has positioned Nigeria for greater prosperity through reforms aimed at improving the ease of doing business and making the economy more globally competitive.
