₦airaland Forum

German Companies Seeing Improvement In Nigerian Investment Climate - German President

German President, Frank-Walter Steinmeier has heaped praises on the administration of President Bola Tinubu, praising the ''improving investment relations'' between Nigeria and major German companies and investors.


German President Steinmeier in Nigeria for Energy Talks

Frank-Walter Steinmeier is in Nigeria tending to Berlin’s "energy partnership" with Abuja.

- Steinmeier was joined by numerous German business leaders on the two-day visit.

German President Frank-Walter Steinmeier on Wednesday was in Nigeria for two days of talks aimed at bolstering Berlin's energy ties with Abuja.

Nigeria is Germany's second-largest trading partner in Africa.

Steinmeier, who met Wednesday with Nigerian President Bola Ahmed Tinubu, traveled with an entourage of high-profile German business leaders from various energy, finance, distribution and tech companies.

Speaking of collaboration between the two nations on gas and oil production and beyond, Steinmeier said, "We have one of the longest energy partnerships that Germany has ever had."

Steinmeier said the "energy partnership" between Germany — Europe's largest economy — and Nigeria — Africa's most populous nation — has gravitated "towards solar and wind power in recent years" but the next goal is "hydrogen production."

"We have the sun here in Nigeria, you have the technology," Tinubu said, as Steinmeier added that Berlin now has its sights set on the next step, green hydrogen, saying, "In Germany, we have the technology for that, too."

President Tinubu said his goal was to "continue to give you assurance that our business doors are open and our reforms are working very well," adding, "Our businessmen and policymakers are very anxious to do business with Germany."


Nigeria President Tinubu making changes to unleash economy

Since taking office in May 2023, Tinubu has ended costly fuel subsidies and freed up currency in reforms that government officials and analysts claim will revive the economy and attract investors.

Short term, however, the moves have added misery to one of Nigeria's worst economic crises in decades, with inflation at a nearly 30-year high of more than 33% in October.

Steinmeier acknowledged Tinubu's reforms, saying, "German companies are seeing an improvement in investment relations."

Though Nigeria's Energy Minister Adebayo Adelabu said no fresh deal had yet been signed, he emphasized that both sides "discussed how we can accelerate the existing agreements."

In November 2023, for instance, the Union Bank of Nigeria and the German DWS Group pledged to invest $500 million (€477 million) in renewable energy.

Moreover, Riverside LNG, a Nigerian firm, has vowed to deliver 850,000 tons of natural gas to Germany's Johannes Schuetze Energy Import AG.

Topman7:
https://www.dw.com/en/german-president-steinmeier-in-nigeria-for-energy-talks/a-71027934

PulaPower:
Confama..

It can only get better..

God bless Nigeria forever !

PulaPower:
Confama..

It can only get better..

God bless Nigeria forever !

descarado:
EU need this gas by all means. And they can do anything to get it.

veraponpo:
By the time this government is through with power, Nigeria would have improved in many areas.

Tinubu knows what he is doing. He is literally replicating what he did in Lagos at the center.

rinzaugustine:
Taking pictures and Celebrating symbolic nonsense that adds no value to the economy or improve naira value or repair bad roads or food prices in market is equal to rubbish. Seeking and snapping pictures with world leaders should be the prerogative of entertainers and online influencers and not the job of a president whose country is in total disarray and people dying from hunger as a result of his bolekaja economic policies with his incompetent, unqualified quack team

Exousiang01:
You won't live long if you continue like this. I am not talking about your hateful heart.
It's your stewpeedity that threatens your existence

descarado:
EU need this gas by all means. And they can do anything to get it.

fuckJones:
and we are not giving them for free right?

rinzaugustine:
same death is what will soon consume you and your family with your bitterness filled hearts

Topman7:
https://www.dw.com/en/german-president-steinmeier-in-nigeria-for-energy-talks/a-71027934

Exousiang01:
Hahajajahaj
The evil you pray to befall Nigeria has gotten a chair, it is sitting in your father's compound

descarado:
EU need this gas by all means. And they can do anything to get it.

helinues:
Na so

Other countries are now having more relationship and confidence with Nigeria.

All thanks to president Tinubu with his new policy reforms

Nigeria is moving ahead

OgaTheTop2:
Yinmu...

rinzaugustine:
I am sure a Brainless pauper like you haven’t experienced a compound before. Kids like you should be learning a handwork or writing jamb or else hunger go kill you