Tinubu To Investors At G20 Conference: ‘We Do Not Need Near-Obsolete Equipment’

Tinubu To Investors At G20 Conference: ‘We Do Not Need Near-Obsolete Equipment’

President Bola Tinubu has rejected the dumping of obsolete equipment in Africa.

He insisted that Nigeria and other African countries desire genuine investments to foster their development and prosperity.

The President stated this at the G20 conference in Berlin, Germany.

He reaffirmed Africa’s readiness to engage in mutually beneficial business partnerships with Europe and the rest of the world.

The investors’ conference is being held under the G20’s Compact with Africa initiative.

Responding to a question on whether Africa was actively encouraging trade among its nations, President Tinubu affirmed, “I’d say yes because the promotional efforts of the Chancellor, Olaf Scholz, who visited Africa recently, is equally an indication that Europe is serious about doing business with Africa.”

The President highlighted the strides made in governance and stability, particularly in Nigeria, saying the nation has continued to fine-tune its business environment and the rule of law to attract serious investors.

Addressing concerns about the importation of near-obsolete equipment to Africa, President Tinubu stated, “Yes, on Siemens, I agree that near-obsolete equipment is not the answer to what we need in Africa. The critical part to success is to be able to leapfrog from where we are today to the next generation of development, and we are opening the door for all of that.”

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