Nigeria has signed a €365 million development partnership with Germany aimed at boosting investment, infrastructure and economic growth, in a move expected to deepen economic ties between both countries.
The agreement, reported by The Nation, includes €65 million in fresh financial support and a separate €300 million export credit guarantee framework to back trade and investment between businesses in Nigeria and Germany.
The deal was signed at the German Embassy in Abuja after bilateral talks between officials from both nations. Nigeria’s Federal Ministry of Budget and Economic Planning said the package will support long-term projects, strengthen investment flows and improve economic cooperation.
Speaking at the ceremony, Dr Uzoka-Anite said the agreement comes at a key stage in the country’s economic reform programme under Bola Tinubu.
She said the partnership would support sectors including agriculture, renewable energy, industrial development, healthcare, skills acquisition and employment. She added that all projects would align with Nigeria’s National Development Plan 2026–2030 and its Agenda 2050 strategy.
German Ambassador Annett Günther said the talks involved several Nigerian ministries, German development agencies, representatives of the European Union and other stakeholders. She said the broad participation underlined the strategic importance Germany places on its relationship with Nigeria.
Also speaking, Philip Knill described Nigeria as a key political and economic partner in Africa. He said German firms including Siemens, SAP, Bayer and STIHL are exploring expanded operations in Nigeria.
Knill said Germany had already approved the €300 million export credit facility and noted that existing joint programmes have delivered measurable results. He said more than 16,000 small businesses have increased their income, around 600,000 farming households have benefited from agricultural training, and over 70,000 Nigerians are gaining access to mini-grid electricity projects.
He added that Germany would continue backing the Presidential Power Initiative, being implemented with Siemens, to improve electricity generation and supply nationwide.
