With massive and strategic investment drive in focus, Nigeria’s President Bola Tinubu departs Abuja, on Monday, in company with some ministers and industrialists, to attend the G-20 Leaders’ Summit in New Delhi, India, on the special invitation of Indian Prime Minister, Narendra Modi, the president has also continued to consult widely on the benefits and risk of joining the global economic power bloc.
According to a statement, Sunday, by the presidential spokesperson, Ajuri Ngelale, those accompanying the president on the trip include four members of his cabinet, namely, the Minister of Foreign Affairs, Amb. Yusuf Tuggar; his Finance counterpart, Wale Edun; Minister of Communications, Innovation, and Digital Economy; Dr. Bosun Tijani and that of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite.
The statement stated further that, “While Nigeria’s membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership.
“This is consistent with the desire of the president to democratise foreign policy and articulate policy formulation and implementation through a Whole-of-Society and a Whole-of-Government approach that achieves the nation’s long-term strategic objectives.
“Once consultations are concluded, government will decide whether or not to apply to join as appropriate.
“The participation of President Tinubu at the G-20 Summit in India is, in part, in furtherance of this objective. The president is expected to return to Nigeria at the end of the Summit,” it added.
The president aims to leverage the platform to attract global capital and promote increased foreign direct investments in key labour-intensive sectors of Nigeria’s economy for job creation and revenue expansion.
Also, Tinubu intends to use the opportunity to highlight Nigeria’s attractiveness as an investment destination, specifically outlining his cross-sectoral reform plan as encapsulated by the Renewed Hope Agenda.
On the sidelines of the summit, the president would participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The CEO Roundtable would be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
“Given the president’s renowned experience in attracting investment to Lagos State, leading industrialists have sought separate private engagements with him at the summit.
“The president’s itinerary will also feature bilateral meetings with a cross-section of world leaders from four different continents, representing both G-20 and non–G20 countries.
“These engagements are geared towards strengthening bilateral economic, trade, and investment partnerships for mutual benefit,” the statement added.
At the G20 Summit, Tinubu is expected to share Nigeria’s perspective on the theme, “One Earth-One Family-One Future,” which speaks to the global unity required to address the challenges facing humanity and the planet.
With its collective contribution of up to 80 per cent of global GDP, 75 per cent of international trade, and housing 60 per cent of the world’s population, the G-20 constitutes a significant economic power bloc of socio-economic opportunity and geo-political stability.
Deji Elumoye
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