President tinubu woos German investors.
Written by AIGBOKHAEBHO OKHUELEIGBE on November 21, 2023
President Bola Tinubu has expressed determination to pursue German investment in targeted sectors of the economy with focus on critical growth-enabling industries in energy transportation, and electric power production, transmission, and distribution.
The president met with German Chancellor, Olaf Scholz, on the sidelines of the G20 Compact with Africa Economic Conference on Monday, in Berlin, Germany’s capital.
At the meeting, while recognizing the success of Siemens AG in positively transforming the quantity and quality of Egyptian electric power supply, the President noted that under hisl eadership, the staggered and unsteady implementation of the Siemens-supported Presidential Power Initiative (PPI) would take on new urgency with a more deliberate process of project execution, even as he recognized the need to embrace Siemens technology in all aspects of the project for project sustainability.