Nigeria's Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has reaffirmed the country's commitment to deepening economic and industrial cooperation with Germany. This commitment was made at the Germany–Nigeria Industrial Technology Conference, “Business Meets Nigeria”, held in Abuja on Friday. The conference aimed to explore opportunities for industrial investment, technology transfer, infrastructure development, and stronger economic cooperation between Nigeria and Germany.
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. A high-level mission by 14 leading German companies in the cement, mining, construction, and industrial technology sectors also engaged Nigerian companies and stakeholders across Lagos and Abuja to identify partnerships for investment and industrial development.
In his keynote address, Senator Bagudu highlighted President Bola Ahmed Tinubu’s bold economic reforms aimed at removing structural distortions, strengthening the investment environment, and restoring confidence in the private sector. The government's objective is to build an economy in which private enterprise can invest, expand productive capacity, generate jobs, and create value. This, according to the Minister, will require strong private-sector participation, greater domestic value addition, and increased investment in manufacturing, mining, construction, and infrastructure.
Senator Bagudu noted that Nigeria’s ambition to build a $1 trillion economy by 2030 presents significant opportunities for German companies in industrial technology, equipment, processing, and infrastructure. He emphasized the importance of bankable, investment-ready projects and appropriate financing mechanisms, including export credit, development finance, commercial lending, and guarantees. The €300 million German export credit guarantee framework was cited as an important component of the growing economic partnership between Nigeria and Germany.
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. This commitment further solidifies the partnership between Nigeria and Germany in the industrial sector.
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. Ambassador Lehne highlighted the range of financial instruments now available to German and Nigerian companies to scale up private-sector partnerships, describing them as tools that provide competitive financing for their projects.
The Conference reaffirmed both countries’ commitment to deepening economic and industrial cooperation and to translating the longstanding Nigeria–Germany relationship into concrete investment, technology, and industrial partnerships that support Nigeria’s productive capacity, competitiveness, and sustainable economic transformation. This commitment is expected to yield significant benefits for both countries, fostering growth, and development through collaborative efforts.
Key points
- Nigeria's Minister of Budget and Economic Planning reaffirms commitment to deepen economic and industrial cooperation with Germany.
- The Germany–Nigeria Industrial Technology Conference aims to explore opportunities for industrial investment, technology transfer, and infrastructure development.
- Nigeria and Germany have a longstanding relationship that is expected to translate into concrete investment, technology, and industrial partnerships.
