Tinubu Assures German President Steinmeier Of Nigeria’s Commitment To Boost Energy, Mineral Investment

President Bola Tinubu has assured the German government and businesses that Nigeria was ready to make it easier for investors by removing obstacles in the energy and solid minerals sectors.

During a business session at the State House on Wednesday, as part of the State Visit of German President Frank-Walter Steinmeier, Tinubu said that unlocking the full potential of the energy sector was key to Nigeria's development.

He also welcomed President Steinmeier to Nigeria and thanked him for the warm reception he received during his visit to Germany, as per the official statement shared on X.

"We need each other, and you emphasized this in our private discussion. Nigeria is going through a transformative period and trying to align with the best strategy and practices on good governance globally," the president said.

"We like our relationship with you as friends and partners. Germany is well-industrialized and renowned for its sustainable infrastructure. I am saying again that Nigeria is ready and open for business. As you mentioned, you are ready to support Nigeria in the energy sector, which you have long been doing."

Tinubu expressed satisfaction with Nigeria's trade in euros with Germany and said that the country has become more transformative and was now making business easier for investors. He added that Nigeria was focusing on investment in gas and alternative energy.

He highlighted the country's potential in natural gas and solid minerals, especially lithium, and noted that Nigeria has a young, eager-to-learn, and adaptable population.

The president also pointed out that many Nigerian students have been trained in Germany, and the country was seeking domestic investment to boost economic growth.

Tinubu highlighted that Nigeria has abundant sunlight for alternative energy, while Germany has the technology, and the two countries should continue to work together in this area.

He mentioned that several Nigerian ministries, including Foreign Affairs, Solid Minerals, Power, and Industry, Trade and Investment, have been instructed to collaborate with investors to develop the energy sector.

The president stressed the importance of using Nigeria's natural resources to drive industrial growth, adding that the country's reforms were focused on achieving long-term prosperity with sustainable and reliable systems.

He also said the goal was to build a strong and prosperous partnership, acknowledging Germany's capability and involvement in regional cooperation.

Last month, Nigerian and German companies signed two important agreements Tuesday to strengthen the economic partnership between both nations. They included a gas supply deal and a $500 million renewable energy pact.