Nigeria’s President Bola Tinubu has expressed his commitment to reforming the country’s economic and business environment to promote efficiency.
During a bilateral meeting with German Chancellor Olaf Scholz, Tinubu admitted Nigeria’s economy was “crawling” and expressed readiness to partner with Germany as the largest economy in Europe and Africa.
He noted Nigeria’s high gas availability and improved investment environment, and expressed readiness to encourage investment in gas pipelines and LNG shipment to Europe. Tinubu also emphasized the need for fuel subsidy removal and tax reforms to ensure investment growth.
He also addressed the issue of over 12,000 Nigerians who couldn’t make Germany’s asylum provision and were at risk of deportation. Scholz emphasized the importance of investments in Nigeria’s infrastructure, stating that extraction was not enough for development.
