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The federal government has said it is seeking to deepen economic and investment ties with Germany, with discussions covering cooperation involving €25 million and €300 million in export credit guarantees.
The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, disclosed this on Monday in Abuja during a courtesy visit by the German Ambassador to Nigeria, Stefan Rössel.
Bagudu described the €25 million and the €300 million export credit guarantees as important areas for continued engagement as Nigeria seeks to expand investment opportunities and make better use of available resources.
According to him, the government’s reform programme has created an opening to attract investment, strengthen productive capacity and turn international partnerships into tangible economic outcomes.
He recalled that when then German Chancellor Olaf Scholz visited Nigeria, the government was pursuing major reforms that needed backing from partners, including Germany, the World Bank, the International Monetary Fund and the European Union.
The minister said Germany’s support had contributed to progress on those reforms.
He also credited Germany with facilitating high-level engagements on trade, investment and energy, noting that discussions during the Nigerian President’s visit to Germany advanced talks on key energy agreements.
Bagudu assured the ambassador that the ministry was ready to work closely with the German government and its institutions to deepen relations and broaden areas of mutual interest.
Rössel, who arrived in Nigeria a few weeks ago, described the relationship between both countries as strong and longstanding, and reaffirmed Germany’s commitment to building on its achievements.
He acknowledged that both countries were operating in a complex global environment but expressed confidence that the relationship would provide a solid foundation for addressing emerging issues.
The Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, congratulated the ambassador on his appointment and stressed the need to translate bilateral agreements into practical outcomes.
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