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Ongoing initiatives to draw in Foreign Direct Investments (FDIs) seem to be bearing fruit, as certain companies from Germany have expressed interest in investing in the country's abundant mineral resources.
The Deputy Head of Mission at the German Embassy in Nigeria,Ambassador Johannes Lehne, shared this insight, noting that German firms are actively seeking opportunities and have utilized satellite mapping to assess Nigeria’s resources.
They are also in discussions with state governments to secure investment prospects.
During a recent episode of Nextier’s ‘Crossing Perspectives’ Podcast with Managing Partner at Nextier,Dr. Ndu Nwokolo, the ambassador emphasized that improvements in security and energy infrastructure are essential for attracting sustained foreign investment.
The discussions between the German government and the public policy think tank, Nextier, examined the evolving development cooperation between Germany and Nigeria, as well as West Africa, with a focus on economic growth, security, climate resilience, and investment opportunities.
Lehne underscored the long-standing partnership between Germany and Nigeria, pointing out the ongoing economic advancements in Nigeria. He remarked that “the German government recognizes that the reforms President Tinubu has implemented over the past two years are taking effect. Inflation is decreasing, foreign exchange reserves are stabilizing, and oil production is on the rise.”
