Nigeria and Germany have signed a €365 million development and investment partnership agreement aimed at supporting economic growth, energy development, agriculture, and private-sector expansion 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 issued by the Federal Ministry of Budget and Economic Planning, the partnership includes a €65 million financial and technical cooperation package from Germany.
The agreement also provides an additional €300 million Export Credit Guarantee financing framework designed to mobilise investments and long-term funding for strategic projects in Nigeria.
Speaking during the signing ceremony, Uzoka-Anite described the partnership as a significant step toward strengthening development cooperation between both countries.
“We recognise that development cooperation must increasingly catalyse investment, innovation, and sustainable financing,” she said.
“This partnership is therefore not merely procedural; it is a concrete affirmation of our shared commitment to improving our people’s lives.”
The minister explained that Nigeria and Germany agreed to deepen collaboration in critical sectors including agricultural transformation, climate and energy transition, sustainable economic development, skills acquisition, healthcare, and peacebuilding initiatives.
She added that the partnership aligns with Nigeria’s ongoing economic reforms under Bola Ahmed Tinubu and would support the country’s National Development Plan 2026–2030 and Agenda 2050 framework.
In her remarks, Annett Günther said the agreement followed extensive bilateral discussions between both countries focused on strengthening long-term cooperation.
She noted that representatives from nine Nigerian ministries, German development institutions, European Union officials, development partners, 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 a strategic partner for regional peace, security, and economic integration.
Knill disclosed that the German delegation also met with Nigerian and German businesses during the visit to discuss opportunities in power, agriculture, industrialisation, and the digital economy.
According to him, major German companies including Siemens, SAP, Bayer, and STIHL are exploring investment opportunities in Nigeria’s energy, technology, industrial, and agricultural sectors.
Knill also commended Nigeria’s ongoing macroeconomic reforms, including foreign exchange liberalisation, tax reforms, and food security initiatives, describing them as important measures for attracting long-term investment.
He further announced that Germany’s Ministry for Economic Affairs and Energy had offered a €300 million export credit line to strengthen bilateral trade and investment relations.
Highlighting the impact of existing cooperation programmes, Knill said more than 16,000 small and medium-sized enterprises had experienced income growth through joint initiatives between both countries.
He added that approximately 600,000 smallholder farming households had benefited from training programmes that improved productivity and increased incomes by up to 90 per cent.
According to him, more than 70,000 Nigerians are also benefiting from mini-grid energy projects supported under the partnership.
Knill reaffirmed Germany’s support for Nigeria’s Presidential Power Initiative through collaboration with Siemens to expand Nigeria’s electricity grid capacity to 25 gigawatts.
He said the project is expected to improve access to cleaner and more reliable electricity for millions of Nigerians.
The signing ceremony ended with both countries pledging to strengthen institutional collaboration, mobilise private-sector participation, and ensure measurable development outcomes from the partnership.
