Nigeria's Tinubu to attend G20 'Compact with Africa' conference in Berlin

18 November 2023 - 11:15
By Reuters
 Nigerian President Bola Tinubu. File photo.
Image: Lewis Joly/Pool via REUTERS Nigerian President Bola Tinubu. File photo.

Nigeria's President Bola Tinubu will fly to Berlin on Saturday to attend the G20 Compact with Africa conference as he seeks to attract investments in energy and infrastructure and boost trade, his office said.

The conference, hosted on Monday by German Chancellor Olaf Scholz, will focus on enhancing economic and business cooperation between African nations and G20 countries, spokesperson Ajuri Ngelale said in a statement.

Tinubu will also participate in the fourth G20 Investment Summit, co-hosted by the German government, where he will make a case for Nigeria as an investment destination, Ngelale said.

Nigeria is seeking to boost investment rather than rely on debt to revive its economy that is weighed down by sluggish growth, record debt, double-digit inflation, foreign currency shortages and thefts of crude oil, its main export.

EU Council President Charles Michel, EU Commission President Ursula von der Leyen and French President Emmanuel Macron will take part in the summit in Berlin, a German government representative said on Friday.