• Signs hydrogen economy pact, courts climate finance, green investment at sustainability conference
James Emejo in Abuja
Minister of Budget and Economic Planning Senator Abubakar Bagudu, has assured foreign investors that President Bola Tinubu’s economic reforms have positioned the country as Africa’s most attractive investment destination.
Speaking at the Third Hamburg Sustainability Conference in Hamburg, Germany, Bagudu said the government’s macroeconomic reforms have restored investor confidence and laid the foundation for sustained private sector-led growth across critical sectors of the economy.
He stressed that the macroeconomic stability achieved through the reforms had made Nigeria attractive for long-term investment across infrastructure, energy, agriculture, manufacturing, digital innovation, and climate-resilient development.
Bagudu seized the opportunity to reiterate the federal government’s commitment to creating an enabling environment for sustainable investment through ongoing macroeconomic reforms to restore investor confidence, strengthen fiscal sustainability, and expand opportunities for private-sector participation.
In a statement, he said Nigeria is determined to leverage international partnerships to mobilise sustainable investment, strengthen economic resilience and accelerate the country’s transition towards a competitive, inclusive and climate-responsive economy.
The conference, jointly convened by the Government of the Federal Republic of Germany, the United Nations Development Programme (UNDP), the Michael Otto Foundation, and other global partners, brought together Heads of Government, Ministers, Development Finance Institutions, multilateral organisations, private-sector leaders, academia, and development experts.
Part of its objectives is to strengthen international cooperation, mobilise investment, forge practical partnerships, and advance innovative financing solutions for sustainable development, climate action, resilient economies, and the accelerated achievement of the Sustainable Development Goals (SDGs).
Beyond promoting Nigeria’s investment opportunities, Bagudu also used the conference to engage leading European financial institutions and climate finance organisations in discussions aimed at unlocking fresh investment into the country’s green economy.
On the sidelines of the event, he held talks with the Chief Executive Officer of the German-African Business Association, Ms. Claudia Voss, who introduced senior executives of ODDO BHF, a major European financial institution with investments in reforestation, carbon credit financing, sustainable forestry and green investment projects across Africa.
During the meeting, ODDO BHF executives reportedly praised the economic reforms undertaken by the federal government, noting that recent policy measures had significantly improved Nigeria’s investment outlook and strengthened confidence among international investors.
The discussions centred on opportunities for collaboration in sustainable forestry, climate finance, carbon market development, environmental restoration and innovative financing mechanisms that could support Nigeria’s transition to a low-carbon economy.
Bagudu said Nigeria possesses enormous untapped opportunities arising from its vast natural resource endowment, expanding carbon market potential and commitment to sustainable land management, adding that these present attractive prospects for mutually beneficial partnerships capable of delivering economic, environmental and social benefits.
In another strategic engagement, the minister met with officials of the H2Global Foundation to review a roadmap for harnessing Nigeria’s hydrogen fuel potential.
The discussions highlighted Nigeria’s comparative advantages in renewable energy resources, abundant natural gas reserves and growing prospects for green industrialisation, positioning the country to emerge as a competitive producer and exporter of green hydrogen to regional and international markets.
The engagement culminated in the signing of a Memorandum of Understanding (MoU) between the Federal Ministry of Budget and Economic Planning and the H2Global Foundation, establishing a framework for cooperation on developing Nigeria’s hydrogen economy, the statement added.
The agreement is expected to facilitate knowledge transfer, policy support and investment mobilisation aimed at developing a hydrogen value chain capable of attracting new industries, supporting energy transition objectives and creating employment opportunities.
