Nigeria, Germany to strengthen economic ties amid growing trade relations

Nigeria and Germany are poised to enhance their bilateral economic relations, with a particular focus on trade and investment.

In 2024, trade between the two nations demonstrated significant activity, with Germany importing goods worth €142 million from Nigeria and exporting €84.6 million to Nigeria in November alone.

This resulted in a trade deficit of €57.5 million for Germany. Over the past five years, however, Nigeria’s exports to Germany have declined at an annualised rate of 5.83 per cent.

In the same period, a Nigerian-based waste management company signed a €40 million export contract deal with two German organisations for the supply of three waste treatment plants and waste collecting trucks to the West African country.

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In a statement issued by the Delegation of German Industry and Commerce in Nigeria on Thursday, it was revealed that the 10th edition of a trade fair focusing on agro-processing, food and beverage, plastics, and packaging will take place in Lagos from March 25 – 27, 2025. The event underscores Germany’s robust trade and investment ties with Nigeria.

The statement highlighted that the trade fair, supported by industry stakeholders and government bodies, aims to foster growth and innovation across Nigeria’s agro-processing, food production, and packaging sectors.

The statement read: “Over 15 countries set to showcase innovations at Nigeria Agrofood, plastprintpack. Over 100 exhibitors, government representatives, and industry experts from more than 15 countries are set to attend Nigeria Agrofood, plastprintpack 2025.

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“A major highlight of the 2025 edition is Germany being honored as the Guest of Honour and to underscore Germany’s strong trade and investment ties with Nigeria.”

The statement added that the three days of networking, innovation, and business opportunities for industry leaders will showcase cutting-edge technologies and solutions.

“This year’s event will also host national pavilions from Germany, China, the Netherlands, and South Africa, further emphasising the fair’s international significance.

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“The event is being organised in partnership with the Delegation of German Industry and Commerce in Nigeria and many other partners.

“The event is expected to attract key decision-makers, investors, and business leaders looking to explore new opportunities in one of Africa’s largest markets,” the statement read.