In July 2019, Siemens Energy and Nigeria’s Bureau of Public Enterprises entered into a three-phased initiative to generate about 5,000 MW to 7,000 MW by 2021 and increase capacity to 11,000 MW by 2023 and 25,000 MW by 2025. These timelines were not met due to issues like COVID-19, which disrupted manufacturing globally, as well as prolonged delays of imported components at the Lagos port. All this changed when Nigeria’s President Bola Tinubu, on the sidelines of the G20 Compact with Africa Economic Conference in November 2023, met with German Federal Chancellor, Olaf Scholz, where he noted that Nigeria is determined to pursue German investment in targeted sectors of the Nigerian economy.
