G-20 summit: Tinubu, ministers arrive India to woo investors

Nigeria’s President Bola Tinubu will on Monday depart Abuja for New Delhi, India, to attend the G-20 Leaders’ Summit.

Tinubu is attending the two-day summit on the special invitation of Indian Prime Minister, Narendra Modi, a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, read on Sunday.

In the statement titled ‘President Tinubu set to attend G-20 Summit in India with investment attraction topping Nigeria’s agenda,’ Ngelale revealed that 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.

“He will use this opportunity to highlight Nigeria’s attractiveness as an investment destination, specifically outlining his cross-sectoral reform plan as encapsulated by the Renewed Hope Agenda.

“Given the President’s renowned experience in attracting investment to Lagos State, leading industrialists have sought separate private engagements with him at the summit,” it read in part.

On the sidelines of the Summit, President Tinubu will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.

The CEO Roundtable will be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.

His 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,” said Ngelale.

At the G20 Summit, the Nigerian leader 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.

Although Nigeria is not yet a member of the G-20 bloc founded in September 1999, the presidential aide said Tinubu’s participation at the summit is, in part, in furtherance of his objective to make the country a member of the bloc.

He noted that while Nigeria’s membership of the bloc is desirable, the Tinubu-led government has embarked on wide-ranging consultations to ascertain 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.”

President Tinubu at the G-20 Summit in India is, in part, in furtherance of this objective.

“Once consultations are concluded, the government will decide whether or not to apply to join as appropriate,” he adds.

Accompanying President Tinubu on the mission are the Ministers of Foreign Affairs, Yusuf Tuggar; Finance and Coordinating Minister of the Economy, Wale Edun; Communications, Innovation and Digital Economy, Dr Bosun Tijani, Industry, Trade and Investment, Dr Doris Uzoka-Anite.

India becomes Tinubu’s sixth foreign destination and first in Asia since he assumed office on May 29, 2023.

So far, he has visited Benin Republic, France, Guinea-Bissau, Kenya and the UK.

With an expected duration of six days in New Delhi, Tinubu would be spending 19 days out of the country so far.

He is billed to return to Nigeria immediately after the conclusion of the Summit.