The Federal Government has stepped up efforts to attract investment from Germany, with discussions focusing on export credit guarantees worth €325 million, energy cooperation and the implementation of existing bilateral agreements.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, disclosed this on Monday during a meeting with the German Ambassador to Nigeria, Stefan Rössel, in Abuja.
The discussions covered €25 million and €300 million in export credit guarantees, which Bagudu described as important areas of engagement as Nigeria seeks to expand investment opportunities and improve its use of available resources.
The minister said Nigeria was committed to strengthening its economic partnership with Germany, particularly in trade, investment promotion and energy.
He expressed appreciation for Germany’s longstanding support for Nigeria’s economic reform programme, noting that the partnership had helped advance the country’s reform efforts.
Bagudu also highlighted high-level engagements between both countries, including discussions during the Nigerian President’s visit to Germany, which advanced talks on key energy agreements.
He said Nigeria’s economic reforms had created opportunities to attract more investment, strengthen productive capacity and translate international partnerships into tangible development outcomes.
The minister assured Rössel that his ministry was ready to work with the German government and relevant institutions to deepen bilateral cooperation and expand areas of mutual interest.
Earlier, the German ambassador described relations between both countries as strong and longstanding, expressing his country’s commitment to building on existing achievements.
Rössel, who arrived in Nigeria a few weeks ago, said both countries were operating in an increasingly complex global environment marked by changing strategic, political and economic challenges.
Despite the challenges, he expressed confidence that the relationship between Nigeria and Germany would provide a solid foundation for addressing emerging issues and sustaining mutually beneficial cooperation.
Bagudu also commended Germany’s commitment to multilateral cooperation, stressing the importance of sustained international partnerships in responding to global economic and political challenges.
The meeting reaffirmed both countries’ commitment to closer economic engagement, with investment, energy and the effective implementation of existing agreements identified as key areas for further cooperation.
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