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Nigeria, Germany explore new opportunities to strengthen economic ties

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Governor Ambode.
Photo: Twitter/AkinwunmiAmbode

As a part of efforts to develop stronger economic ties between Nigeria and Germany, the delegation of German Industry and Commerce in Nigeria in collaboration with Nigeria-German Business Association and the German-African Business Association (Afrika-Verein der deutschen Wirtschaft) hopes to explore new funding opportunities at this yr’s discussion board.

As said by the organisers, the funding discussion board which kicked-off yesterday with the theme; “Leveraging partnership for economic growth”, will present opportunities for Nigerian and German companies to community, change data and set up enterprise contacts.

Speaking on the German-Nigeria enterprise discussion board, the Governor of Lagos state, Akinwunmi Ambode represented by the Commissioner for Commerce, Industry and Cooperatives, Lagos, Olayinka Oladunjoye assured buyers of steady political setting, enchancment in energy provide, safety within the state, amongst others.

Ambode mentioned his authorities is presently specializing in the event of important enterprise sectors comparable to agriculture and meals processing, provision of apparatus to farmers, promotion of agricultural worth chains, and enlargement of fish manufacturing.He additional revealed that 1000MW of energy out of the proposed 4000MW can be accessible this yr, stressing that it’s going to cut back dependence on fuel from the Niger delta as he additionally referred to as on buyers to benefit from the Lagos State free commerce zone which is open to all nationals and international locations of the world.

“Without doubt, Lagos state is a commercial and industrial state in Nigeria with the population of 24.8 million and at annual population growth rate of 3.2 per cent, immigration rate of six persons per hour, 25 per cent active youth population between 15 and 25 years. Lagos State is the fifth largest economy in Africa having a gross domestic product of $136 billion and accounting for almost third per cent of the country’s GDP. Therefore as an economic giant of Africa, Lagos state will not stop to design and administer policies and initiatives that will help attract investment to Nigeria”, he additionally mentioned.

A delegate, Delegation of German Industry and Commerce in Nigeria, Dr. Marc Lucassen mentioned the purpose of the discussion board was to promote economic prosperity between Nigeria and German, create extra enterprise opportunities and supply glorious relationship between each international locations.The Ambassador of Germany to Nigeria, Dr. Bernhard Schlagheck referred to as on the Federal Government of Nigeria to present sufficient safety for buyers as economic stability is crucial in any economic system. He additionally implored the federal government to guarantee free and honest election within the nation.

The Executive Secretary/CEO Nigeria Investment Promotion Council (NIPC), Yewande Sadiku throughout her presentation described Africa as probably the most engaging funding vacation spot on this planet, stating that the inhabitants speaks to market and potential shoppers as Africa is the one continent designated in 2050 to develop greater than double in dimension, whereas Nigeria will develop greater than 5 per cent a yr.

She urged buyers to consider Africa and Nigeria’s attractiveness will enhance sooner or later, stating that statistics reveals 66 per cent consider attractiveness has improved over the previous yr in Africa, whereas 81 per cent consider the attractiveness will enhance over the following few years.As said by her, a part of the nation’s progress plan is to diversify the economic system and a lot of progress seen has been pushed by the non-oil sector.

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