• News - North Central - FCT
  • Updated: November 20, 2023

G20 conference: Tinubu woos investors on Nigeria's energy sector

G20 conference: Tinubu woos investors on Nigeria's energy se


Nigeria's President, Bola Ahmed Tinubu has wooed investors by advising them to take advantage of the country's energy sector.

The president who was speaking on Monday in Germany told international investors that Nigeria remains blessed with natural gas and a highly skilled and industrious population.

Tinubu was part of a panel discussion titled, "Fostering Local Value Chains and Investments in Africa - The Role of the German Private Sector" at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz. 

He said: "We are dogged in our pursuit of natural gas development today, in tandem with hydrogen production for tomorrow. The world knows Nigeria as a leader in the energy sector. 

"Our vast gas deposits and business-friendly environment make us an attractive investment destination. But we are going a step further now. 

"We are creating fiscal responsibility and tax reforms as we reform our financial institutions to expeditiously accommodate foreign investments. We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in Africa. 

"Equally, we have every ingredient required in the making of a modern economy: a well-educated population, a massive market, and the political will to bring it all together under my leadership.

"Africa has moved beyond the false past notions of business disincentivization and poor adherence to the rule of law. We now fully recognize the nexus between the inflow of investor money and the sanctity of contracts. 

"We want to partner on the basis of who we are and what we do, rather than on the basis of long-held misconception."

Ajuri Ngelale, the President's Special Adviser on Media and Publicity made this known in a statement on Monday.

According to Ngelale, President Tinubu assured the investors of Nigeria's readiness to receive them while removing bottlenecks on investment opportunities.

"There is stability and predictability in the socio-political development of our country, which provides a conducive atmosphere for business operations and investment. 

"Your money is safe. Since I assumed office in May 2023, we have embarked on transformative changes, removing all obstacles hindering businesses. We are reforming the economy based on the principle and philosophy of good governance," Tinubu added.

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