During the G-20 summit in India, President Bola Ahmed Tinubu engaged in discussions with German Chancellor Olaf Scholz with the aim of revitalizing Nigeria’s car manufacturing sector. Ajuri Ngelale, the Special Adviser on Media and Publicity to the President, confirmed this development in a statement issued on Sunday.
President Tinubu emphasized the significance of expanding economic partnerships during his meeting with Chancellor Scholz. He urged the German government to explore new incentives to attract foreign investments into Nigeria.
In his remarks, President Tinubu stated, “Our goal is not just to lay out the financial framework for an enhanced economic partnership but also to align the perspectives of major manufacturers like Volkswagen and others with the incentives that our government has introduced to encourage their growth across various industries and sectors within our nation.”
Chancellor Scholz acknowledged the mutually advantageous nature of deepening economic ties with Nigeria. He expressed his appreciation for the discussions, saying, “Thank you for this important discussion, Mr. President. I value this opportunity to strengthen our economic relations. Your market is unique, and our companies have a longstanding presence in Nigeria.
We commend the business-friendly reforms that you have implemented. I am pleased to inform you of my intention to visit Nigeria in October, which will enable us to further advance these initiatives.”