Presidency: Tinubu To Use G20 Summit Trip For FDI, Economic Drive

The Presidenct on Friday dsclosed that President Bola Tinubu will use the opportunity of attending the G20 Leaders’ Summit in New Delhi, India, next week to shop for more Foreign Direct Investments (FDI) for the development of the nation’s economy.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, who made this known to newsmen at the State House, Abuja said the President apart from attending the important global event holding from 9th to 10th September, has lined up a number of meetings and engagements with world and business leaders to present available opportunities in Nigeria’s critical sectors.

According to him, President Tinubu will be meeting with a number of potential investors into the Nigerian steel development, electricity generation, transmission and distribution, shipyard building capacity and many others, which are labour-intensive and can create job opportunities for Nigerians.

His words: “We”ll brief you today on  President Bola  Tinubu’s preparations for the upcoming G20 Summit in New Delhi, India on September 9 to the 10th of this month. The focus of the Summit will be heavily predicated on the urgent need to attract foreign direct investment in-country and to ensure that we are able to mobilize private capital from around the world toward the development of Nigeria’s public infrastructure. 

“In addition to that, we are focused on engagements that will be dealing with critical sectors of the national economy, involving steel development, involving electricity generation, transmission and distribution, involving shipyard building capacity, and involving several other industries, which we know to be labour intensive, to ensure that we can create as many jobs for our teeming youth population as possible. 

“To this end, Mr. President, will be meeting with a cross section of heads of state as well as industrial leaders, Titans, chief executive officers of some of the world’s most valuable companies, particularly those of Indian origin. 

“So, His President Tinubu, will be hosting a CEO roundtable, which will be made up of more than 20 chief executive officers of major industries across multiple sectors of the Indian economy to ensure that we leverage on their interest in investing in the country, in such a way that suits the industrialization initiative of the Renewed Hope Agenda of Mr. President. 

“In addition to that CEO roundtable, there will be at least five meetings with the CEOs of five major industries in India, including Jindal Steel and Power Company, among a few others that would have a very important impact on our ability to develop the steel sector in our country”.

The presidential spokesperson further disclosed that the President would be meeting with other Heads of State, including the Indian Prime Minister, Narendra Modi, as well as the Nigerian community in the country.

He said: “In addition to that Mr. President will be meeting with the President of Brazil, President da Silva, he will be meeting with German Chancellor, Olaf Schultz. He will be meeting with Indian Prime Minister, Narendra Modi, he will be meeting with the South Korean President, Yoon Suk Yeol, and a few other heads of state on the sidelines of the G20. 

“Of course, as is the custom, the President will also be meeting with the Nigerian community in India and he will also provide a set of remarks to the entire Summit involving all heads of state present and many other industry and business leaders from around the world. 

“The G20 is a major event for our country at this time and we are going to ensure, under the leadership of President  Tinubu, that we take maximum advantage of the opportunities presented to bring value to the country, to create jobs for our people and ultimately, to generate and expand existing revenues in the country to ensure the government can effectively fund and sponsor its programmes and policies across sectors, so there’s a lot to cover. 

“Of course, when we arrive in India next week, there will be live updates from India, which I will be providing day after day to ensure that Nigerians have full access into what our President is doing on their behalf”.

Deji Elumoye in Abuja

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