The Nigerian government has reaffirmed its commitment to deepening economic and industrial cooperation with Germany. Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this statement at the Germany-Nigeria Industrial Technology Conference, "Business Meets Nigeria", in Abuja. He highlighted President Bola Ahmed Tinubu's economic reforms aimed at removing structural distortions and strengthening the investment environment. The goal is to build an economy where private enterprise can invest, expand productive capacity, generate jobs, and create value.
Nigeria's ambition to build a $1 trillion economy by 2030 requires strong private-sector participation, greater domestic value addition, and increased investment in key sectors. Senator Bagudu noted that significant opportunities exist 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, and commercial lending. The €300 million German export credit guarantee framework is a key component of the growing economic partnership between Nigeria and Germany.
German machinery and equipment manufacturers can support Nigeria's industrial ambitions by delivering solutions that enhance productivity, reliability, and long-term competitiveness. Dr. Chux Onaa, Head of the VDMA delegation, reaffirmed VDMA's commitment to translating 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.
The Nigeria-Germany bilateral relationship has been strengthened by Nigeria's economic reforms, which have boosted trade and improved the ease of doing business. Ambassador Johannes Lehne, Deputy Head of Mission at the German Embassy in Nigeria, highlighted the range of financial instruments available to German and Nigerian companies to scale up private-sector partnerships. These tools provide competitive financing for projects, enabling companies to jointly develop the Nigerian market and build a long-term, productive relationship.
The Germany-Nigeria Industrial Technology Conference brought together government representatives, German engineering and technology companies, Nigerian businesses, financial institutions, and industry stakeholders. The conference aimed to explore opportunities for industrial investment, technology transfer, infrastructure development, and stronger economic cooperation between Nigeria and Germany. The event was hosted by the German Engineering Federation (VDMA) in collaboration with the Embassy of the Federal Republic of Germany in Nigeria.
A high-level mission by 14 leading German companies in the cement, mining, construction, and industrial technology sectors engaged Nigerian companies and stakeholders across Lagos and Abuja. The goal was to identify partnerships for investment and industrial development. This engagement is expected to lead to concrete investment, technology, and industrial partnerships that support Nigeria's productive capacity, competitiveness, and sustainable economic transformation.
The conference reaffirmed both countries' commitment to deepening economic and industrial cooperation. The partnership aims to support Nigeria's productive capacity, competitiveness, and sustainable economic transformation. Key areas of focus include industrial technology, equipment, processing, and infrastructure development. The collaboration is expected to drive economic growth and create jobs in Nigeria.
Key points
- Nigeria aims to build a $1 trillion economy by 2030 with strong private-sector participation.
- Germany's export credit guarantee framework of €300 million will support Nigeria's industrial development.
- The partnership will focus on industrial technology, equipment, processing, and infrastructure development.
