Tinubu appeals to UK for support in energy transition, investment
President Bola Tinubu has urged the United Kingdom government to partner with Nigeria and other African countries in the areas of economy and defence.
Tinubu appealed to the UK to increase its investments across various sectors to support the sustainable and broad-based prosperity of Africa.
He spoke in Abuja on Wednesday while hosting the UK’s Secretary of Foreign, Commonwealth, and Development Affairs, James Cleverly MP.
According to Tinubu: “The United Kingdom must do more for the continent. We have not developed a competitive economy.”
On the issue of energy transition and economic growth in Africa and Nigeria, Tinubu urged the UK to play a key role in mobilizing investment to pipe gas from Nigeria to Europe.
He stressed the need to accept gas as an alternative, clean energy source and requested financial support and facilitation for the necessary investment.
Responding, Cleverly congratulated Tinubu on his election victory and commended him for the bold economic reforms he has initiated, including the removal of fuel subsidy and addressing multiple foreign exchange markets.
He assured Tinubu that the UK was a strategic long-term partner for Nigeria and Africa.
“I am happy to know that the United Kingdom is ready to work with us in Nigeria and Africa. The United Kingdom must do more for the continent. We have not developed a competitive economy.
“The Western economic programme should be able to help Nigeria pipe our gas to Europe since gas is acceptable as alternative clean energy. You must help us with the finance and facilitate the investment we require.”
The Foreign Secretary further said he was in Nigeria to promote bilateral and economic partnerships.
“I am keen on encouraging more UK investments into Nigeria. You took bold and important decisions so far that will reform your economy and open it more for foreign investments. Nigeria has a population of very young, educated and thoughtful people. With their energy and talents along with your resources, Nigeria can be a net exporter of energy and agricultural products. The UK will remain a strategic long-term and multi-decades partner of Nigeria and Africa.”