President Tinubu pledges to strengthen Nigeria-Germany economic partnership

President Bola Tinubu, on Wednesday, expressed his administration’s commitment to enhancing the partnership between Nigeria and Germany.

This commitment is expected to foster a more fruitful collaboration that benefits both nations, specifically in areas such as energy and other critical sectors of economic development.

Nigeria is expected to gain significantly from its partnership with Germany as both countries recommitted to a €4 billion investment in green energy projects by 2030.
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This initiative aligns with Nigeria’s goals of economic diversification, job creation, and sustainable development under President Tinubu’s agenda.

Other gains include enhancement of Nigeria’s role in the global green hydrogen market, with plans from Germany to import the renewable resource, which is crucial for carbon neutrality efforts of Germany by 2045.

Nigeria and Germany had, over the years, enjoyed robust trade relationships, with Germany serving as importer of Nigeria’s crude which stood at $2.14 billion in 2022.

Germany imported about $39.1m of Nigeria’s cocoa butter and nitrogenous fertilizer worth $35.4m, during the same period.

Tinubu, speaking at the bilateral meeting with German President Frank-Walter Steinmeier at the State House in Abuja on Wednesday, emphasised the importance of building robust ties that benefit both nations.

Tinubu underscored Nigeria’s willingness to engage in international business collaborations and assured that the current economic reforms are aimed at fostering a supportive environment for foreign investments.

President Tinubu also highlighted the eagerness of both Nigerian and German policymakers and business leaders to deepen collaboration, as evident by prior engagements.

He revealed that his government is making efforts to enhance business rankings and create frameworks for mutual prosperity.

He expressed optimism about strengthening both people-to-people connections and government-level facilitation of economic opportunities.

“I could see from the previous meeting earlier meeting today that our businessmen and policy makers are very anxious to do business with Germany.

“Mine is to continue to give you assurances that our business doors are open and reforms are working very well. These business ranking, that’s what we have discussed.

“We plan to strengthen the relationship and build partnership that is fulfilling and rewarding to the two countries, people-to-people relationship, and government-to-government facilitation of opportunities and prosperity.”