Nigeria has reaffirmed its commitment to strengthening industrial and economic cooperation with Germany, with the Federal Government seeking greater investment, technology transfer and private-sector partnerships to expand the country’s productive capacity.
Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, made the commitment at the Germany–Nigeria Industrial Technology Conference, “Business Meets Nigeria,” in Abuja. The event brought together government officials, German engineering and technology companies, Nigerian businesses and financial institutions.
The engagement formed part of a high-level mission involving 14 German companies operating across sectors including cement, mining, construction and industrial technology. Discussions focused on investment opportunities, infrastructure development, technology transfer and stronger business links between both countries.
Bagudu said achieving Nigeria’s ambition of building a $1 trillion economy by 2030 would require increased private-sector participation, domestic value addition and investment in manufacturing, mining, construction and infrastructure.
He also highlighted the importance of bankable projects and appropriate financing mechanisms, including export credit, development finance, commercial lending and guarantees. A €300 million German export credit guarantee framework was identified as an important component of the expanding economic partnership.
The renewed engagement could create opportunities for Nigerian industries to access German technology, equipment and expertise while supporting investment, job creation and stronger local production.
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