By Stella Odueme
Nigeria has reiterated its commitment to strengthening economic and industrial ties with Germany, with a focus on attracting investment, promoting technology transfer and expanding the country’s productive capacity.
The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, stated this on Friday at the Germany–Nigeria Industrial Technology Conference, tagged “Business Meets Nigeria,” held in Abuja.
The conference, organised by the German Engineering Federation (VDMA) in collaboration with the Embassy of the Federal Republic of Germany in Nigeria, brought together government officials, German engineering and technology firms, Nigerian businesses, financial institutions and other industry stakeholders.
The meeting focused on opportunities for industrial investment, technology transfer, infrastructure development and stronger economic cooperation between both countries.
It was also part of a high-level business mission involving 14 leading German companies operating in the cement, mining, construction and industrial technology sectors.
The companies held engagements with Nigerian businesses and stakeholders in Lagos and Abuja to explore opportunities for investment, partnerships and industrial development.
Speaking at the event, Bagudu said the Federal Government was committed to creating an economic environment that would encourage private investment, expand productive capacity, create jobs and enhance value creation.
He said the economic reforms of President Bola Ahmed Tinubu were designed to address structural distortions, improve the investment climate and restore confidence in the private sector.
According to him, Nigeria’s ambition of building a $1 trillion economy by 2030 would require significant private-sector participation, increased domestic value addition and greater investment in manufacturing, mining, construction and infrastructure.
He identified industrial technology, equipment, processing and infrastructure as areas with significant opportunities for German companies seeking to participate in Nigeria’s economic transformation.
On financing, the minister stressed the need for bankable and investment-ready projects, supported by appropriate funding mechanisms such as export credit, development finance, commercial lending and guarantees.
He described the €300 million German export credit guarantee framework as an important component of the expanding economic partnership between Nigeria and Germany.
Also speaking, the Head of the VDMA delegation, Dr Chux Onaa, said German machinery and equipment manufacturers had the expertise to support Nigeria’s industrial development through solutions in materials handling, cement and minerals processing, digitalisation and environmental technologies.
Onaa said such technologies could help improve productivity, reliability and the long-term competitiveness of Nigerian industries, reaffirming VDMA’s commitment to converting the engagement into tangible opportunities for technology transfer, investment and industrial cooperation.
The Deputy Head of Mission at the German Embassy in Nigeria, Ambassador Johannes Lehne, said the Nigeria–Germany bilateral relationship remained strong, adding that Nigeria’s economic reforms had contributed to improved trade and a better business environment.
Lehne also highlighted the range of financial instruments available to German and Nigerian companies seeking to expand private-sector partnerships.
He said the financing mechanisms could provide competitive funding for projects while enabling companies from both countries to jointly develop the Nigerian market and establish long-term business relationships.
The conference ended with a renewed commitment by Nigeria and Germany to expand industrial and economic cooperation and translate their longstanding bilateral relationship into concrete investments, technology partnerships and industrial ventures capable of supporting Nigeria’s sustainable economic transformation.