Nigeria has reaffirmed its commitment to expanding industrial and economic cooperation with Germany, with both sides seeking to convert longstanding diplomatic ties into new investment, technology and manufacturing partnerships.
Budget and Economic Planning Minister Abubakar Atiku Bagudu spoke at the Germany-Nigeria Industrial Technology Conference in Abuja.
Bagudu said Nigeria’s ambition to build a $1 trillion economy by 2030 would require strong private-sector participation, higher domestic value addition and greater investment in manufacturing, mining, construction and infrastructure.
He said German companies could play a significant role in industrial technology, machinery, processing equipment and infrastructure.
The minister also stressed the importance of bankable projects and appropriate financing tools, including export credit, development finance, commercial lending and guarantees.
He cited a €300 million German export-credit guarantee framework as part of the growing bilateral economic relationship.
Representatives of German industry said Nigerian firms could benefit from technology and equipment in areas including materials handling, cement, minerals processing, digitalization and environmental technology.
German Embassy officials said Nigeria’s recent reforms had improved the business environment and expanded opportunities for private-sector partnerships.
The conference formed part of a mission by 14 German companies visiting Lagos and Abuja to identify investment and industrial-development opportunities.
