Nigeria and Germany have signed a new development and investment partnership worth approximately $428 million, aimed at expanding cooperation across energy, agriculture, healthcare and industrial development.
The agreement was signed in Abuja by Senator Abubakar Bagudu, Nigeria’s Minister of Budget and Economic Planning, Doris Uzoka-Anite, Minister of State for Budget and Economic Planning, and senior German officials.
Both governments said the partnership would support economic reforms, private-sector growth and long-term investment in Africa’s largest economy.
Key developments include:
- €65 million allocated for financial and technical cooperation
- €300 million export credit guarantee framework for trade and investment projects
- Support for renewable energy, skills development and healthcare programmes
- Continued backing for Nigeria’s Presidential Power Initiative with Siemens
Annett Günther, Germany’s Ambassador to Nigeria, said the agreement followed months of bilateral discussions, while Philip Knill, Deputy Director General at Germany’s Federal Ministry for Economic Cooperation and Development, described Nigeria as a strategic regional partner.
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