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Nigeria and Germany have signed a €365m development and investment partnership agreement to support economic growth, energy expansion, agriculture, and private-sector development in Nigeria.
The agreement was signed on Thursday at the German Embassy in Abuja by Abubakar Bagudu, Doris Uzoka-Anite, and senior German government officials, according to a statement from the Federal Ministry of Budget and Economic Planning.
Speaking during the ceremony, Uzoka-Anite said the partnership reflected a shared commitment by both countries to improve the lives of their citizens.
“We recognise that development cooperation must increasingly catalyse investment, innovation, and sustainable financing. This partnership is therefore not merely procedural; it is a concrete affirmation of our shared commitment to improving our people’s lives,” she said.
The ministry explained that the agreement includes a €65m financial and technical cooperation package from Germany, alongside an additional €300m Export Credit Guarantee financing framework designed to mobilise investments and long-term funding for strategic projects in Nigeria.
Uzoka-Anite described the agreement as a renewed commitment to the long-standing relationship between both countries, adding that Nigeria and Germany would deepen collaboration in agricultural transformation, climate and energy transition, sustainable economic development, skills acquisition, healthcare, and peace-building initiatives.
She noted that the agreement comes at a crucial stage in Nigeria’s economic reform agenda under President Bola Tinubu, saying the reforms are intended to drive long-term growth and prosperity.
The minister added that all programmes under the partnership would align with Nigeria’s National Development Plan 2026–2030 and the broader Agenda 2050 framework.
In her remarks, Annett Günther said the agreement followed extensive bilateral engagements aimed at reviewing progress and strengthening future cooperation.
She disclosed that representatives from nine Nigerian ministries, German development institutions including BMZ, GIZ and KfW, development partners, European Union representatives, and members of the diplomatic community participated in the negotiations.
The Deputy Director General of Germany’s Federal Ministry for Economic Cooperation and Development, Philip Knill, described Nigeria as “a giant in Africa” and an important partner in regional economic integration, peace, and security.
Knill said the German delegation also met with Nigerian and German businesses to discuss opportunities in power, agriculture, digital economy, and industrial development.
According to him, major German companies, including Siemens, SAP, Bayer, and STIHL, are already exploring opportunities in Nigeria’s industrialisation, energy, digital transformation, and agricultural mechanisation sectors.
Credit: Leadership Newspaper
He also commended Nigeria’s macroeconomic reforms, especially foreign exchange liberalisation, tax reforms, and food security policies, noting that Germany viewed them as critical to attracting long-term investment.
Knill further announced that Germany’s Ministry for Economic Affairs and Energy had offered a €300m export credit line to strengthen bilateral trade and investment.
Highlighting the impact of ongoing programmes under the partnership, he said more than 16,000 small and medium-sized enterprises had increased their incomes through joint initiatives, while around 600,000 smallholder farming households benefited from training programmes that boosted productivity and earnings by up to 90 per cent.
He added that more than 70,000 Nigerians currently benefit from mini-grid energy projects supported through the partnership.
Knill also reaffirmed Germany’s support for Nigeria’s Presidential Power Initiative through collaboration with Siemens to expand electricity grid capacity to 25 gigawatts, a move expected to improve access to cleaner and more reliable energy nationwide.
