Nigeria and Germany Collaborate to Boost Trade and Partnerships

While on a visit of West Africa, German Chancellor Olaf Scholz met with President Bola Tinubu of Nigeria to talk about trade and investment prospects.

Germany is looking to strengthen its commercial ties with its second-biggest sub-Saharan African trading partner, with an approximate yearly trade volume of 3 billion euros.

Scholz underlined the significance of investments in hydrogen energy and Nigeria’s ability to address local demands. He recommended a framework with the European Union to enhance migration and guarantee refugees’ ability to return, as well as co-management of issues pertaining to migration to Germany.

Nigeria possesses the greatest proven gas reserves in Africa, while Germany has a substantial demand for natural gas. After the war with Ukraine, Germany has diversified its sources of gas from Russia.

According to Nigerian President Inyangabi, freedom, democracy, and the rule of law are necessary for the nation to survive. He vowed to change the narrative and enact a transformative government. In Lagos, Scholz will inaugurate a German-Nigerian business roundtable prior to his journey to Ghana.