President Muhammadu Buhari has assured that his administration will always uphold the sanctity of the rule of law in governing the country while assuring the visiting German Chancellor, Angel Merkel that all agreements would also be fully respected.
Buhari gave the assurance on Friday when he received the German Chancellor, who was accompanied by top government officials and a business delegation, at the Presidential Villa, Abuja.
In his remarks during a bilateral meeting, the President said unity and harmony in every society can only be preserved by observing the rule of law, and ensuring that agreements reached in good faith are followed through to the mutual benefits of countries.
Buhari told Chancellor Merkel and members of her delegation that the rule of law embodies all the rightful mechanisms for conflict resolution, both within the country, and in dealing with all foreign partners, assuring that his administration remains focused on delivering a peaceful, economically viable and politically stable polity to all Nigerians.
The President also said that Nigeria remains grateful to the German government for the fair treatment of migrants.
According to Buhari, Nigeria looks forward to improving its trade figures with Germany, which had taken strong interest in investing in the country and supporting the government in providing effective services in security, education and job creation.
The President said his administration instituted reforms in the economy to make it more internationally attractive and business friendly for investors, noting that infrastructure development had been a priority, especially in power supply, road and rail constructions.
President Buhari said the economy was already responding to the diversification reforms and the stimulus of the government as growth is now largely driven by the non-oil sector, and urged German investors to take advantage of the Nigeria’s friendly climate and political stability.
Buhari said, “I enjoin you to invest in Nigeria because this is the best time to do so.”
President Buhari noted that the successful political transitions since 1999 were clear indications of the country’s stability and preparedness to welcome more investments that will bolster the economy.
Speaking at the meeting, Chancellor Merkel said Germany is prepared to further strengthen bilateral and business relations with Nigeria, which, according to her, controls 60 per cent of the ECOWAS economy.
The German Chancellor said the population growth and opportunities in the economy can always be explored to improve the employment situation in the country.
She said the three memoranda of understanding signed during the visit represent a starting point for a healthier and deeper partnership with Nigeria in the areas of security, trade, immigration and education.
The federal government signed a memorandum of understanding with Volkswagen of South Africa for the manufacturing of Volkswagen vehicles in Nigeria, while Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL Plc) signed a memorandum of understanding with Petkus Technologies GMBH for the supply of seed and grain processing machines.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture also signed a memorandum of understanding with the German-African Business Association on fostering trade and investment between the two countries.