The Federal Government of Nigeria has reiterated its commitment to strengthening economic and industrial ties with Germany. This was stated by Senator Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, at the Germany–Nigeria Industrial Technology Conference, “Business Meets Nigeria”, held in Abuja. The conference aimed to explore opportunities for industrial investment, technology transfer, and infrastructure development between the two countries.
The conference was hosted by the German Engineering Federation (VDMA) in collaboration with the Embassy of the Federal Republic of Germany in Nigeria. It brought together government representatives, German engineering and technology companies, Nigerian businesses, financial institutions, and industry stakeholders. The gathering was part of a high-level mission by 14 leading German companies in the cement, mining, construction, and industrial technology sectors.
In his keynote address, Bagudu highlighted President Bola Tinubu’s economic reforms aimed at removing structural distortions, strengthening the investment environment, and restoring confidence in the private sector. He emphasized that the government’s objective is to build an economy where private enterprise can invest, expand productive capacity, generate jobs, and create value. Nigeria aims to build a $1 trillion economy by 2030, which will require strong private-sector participation and increased investment in manufacturing, mining, construction, and infrastructure.
Bagudu also emphasized the importance of bankable, investment-ready projects and appropriate financing mechanisms, including export credit, development finance, commercial lending, and guarantees. He cited the €300 million German export credit guarantee framework as an important component of the growing economic partnership between Nigeria and Germany. This framework is expected to provide competitive financing for projects and enable companies to develop the Nigerian market.
Dr. Chux Onaa, Head of the VDMA delegation, noted that German machinery and equipment manufacturers can support Nigeria’s industrial ambitions by delivering solutions that enhance productivity, reliability, and long-term competitiveness. He reaffirmed VDMA’s commitment to translating this engagement into concrete opportunities for technology transfer, investment, and industrial collaboration. German companies have expertise across materials handling, cement and minerals processing, digitalization, and environmental technologies.
Ambassador Johannes Lehne, Deputy Head of Mission at the German Embassy in Nigeria, reiterated the strength of the Nigeria–Germany bilateral relationship. He noted that Nigeria’s economic reforms have boosted trade and improved the ease of doing business. Lehne highlighted the range of financial instruments now available to German and Nigerian companies to scale up private-sector partnerships and develop the Nigerian market.
The conference reaffirmed both countries’ commitment to deepening economic and industrial cooperation and translating their longstanding relationship into concrete investment, technology, and industrial partnerships. These partnerships aim to support Nigeria’s productive capacity, competitiveness, and sustainable economic transformation. The collaboration is expected to provide opportunities for technology transfer, investment, and industrial development between Nigeria and Germany.
Key points
- Nigeria aims to build a $1 trillion economy by 2030.
- Germany has pledged to support Nigeria’s industrial ambitions through technology transfer and investment.
- The two countries have reaffirmed their commitment to deepening economic and industrial cooperation.
