President Tinubu Promises Renewable Energy Collaboration during German President’s State Visit
President Bola Tinubu assured German businesses of Nigeria's readiness to fully implement investment agreements in renewable energy, youth skill development, and industrial growth during a meeting with German President Frank-Walter Steinmeier. Speaking at a press conference, Tinubu highlighted ongoing reforms aimed at creating a business-friendly environment, including import duty waivers for machinery, power generation decentralization, and active foreign exchange reforms. "We have an open-door policy," Tinubu emphasized, explaining the removal of bureaucratic obstacles for business establishment. He detailed tax reforms that are private-sector friendly and highlighted the country's efforts to streamline business processes. The Nigerian leader underscored the country's potential as a major gas producer and its abundant renewable energy resources, particularly solar power that could be harnessed through German technology for rural electrification. Addressing the challenges in the electricity sector, Tinubu acknowledged the aging infrastructure, noting that transmission lines […]