Tinubu woos Volkswagen, other manufacturers back to Nigeria

President Bola Ahmed Tinubu, on the sideline of the G-20 summit in India, met with German Chancellor Olaf Scholz to boost Nigeria’s car manufacturing sector.

Ajuri Ngelale, Special Adviser on Media and Publicity to the President, disclosed this in a statement on Sunday.

Tinubu noted that expanding Nigeria’s economic partnership is vital to his administration.

He called on the German government to explore new incentives for foreign investments in Nigeria.

“It is not, for us, only a matter of designing the financial architecture for an expanded economic partnership. It is also about the practicality of aligning the perspectives of your large-scale manufacturers, such as Volkswagen and others, with the reality of the new incentives my government is putting in place for them to come and prosper across multiple value chains and sectors inside our country”.

German Chancellor Olaf Scholz acknowledged the mutually beneficial nature of an escalation in the scale of economic ties with Nigeria.

“Thank you for this important discussion, Mr. President. I appreciate this opportunity to advance our economic relations. Your market is unique, and our companies have a history in Nigeria. We acknowledge the business-friendly reforms you have put in place. I am happy to inform you of my desire to visit you in Nigeria in October, which will allow us to carry forward these initiatives,” the German leader stated.