President Bola Tinubu who has explained that Nigeria’s determined pursuit of German investment in targeted sectors of the economy was focused on critical growth-enabling industries in energy, transportation, and electric power production, transmission and distribution.
According to a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, President Tinubu gave the explanation during a meeting with the Chancellor of the Federal Republic of Germany, Olaf Scholz, on the sidelines of the G20 Compact with Africa Economic Conference, in Berlin.
Recognising the success of Siemens AG in positively transforming the quantity and quality of Egyptian electric power supply, the President noted that under his leadership, 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 sustainability.
On his part, the German Chancellor expressed readiness but with an acknowledgment of the need to resolve administrative and financial hurdles brought about by governance problems emanating from prior administration in the sector.