Germany Willing To Expand Economic Partnership With Nigeria

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Abuja, Nigeria – Mediaage NG News – German Chancellor Olaf Scholz on Sunday said his country is willing to diversify its trade partners and expand economic partnership with Nigeria.
He said Germany is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.

His visit to Africa is the third in two years and comes as conflicts in the Middle East and elsewhere highlight the growing importance of an energy-rich region as an alternative to Russian energy.

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Nigeria is Africa’s largest oil producer and Germany’s second-largest trading partner in sub-Saharan Africa. The trade volume between Germany and Nigeria is estimated to be about $3bn (£2.4bn) annually.

“There are a lot of chances, not just from gas and oil… but for better using the capacities of your country, but also for going into investments for the future, which is about hydrogen,” Mr Scholz said in a joint briefing with Nigeria’s President, Bola Ahmed Tinubu, in the Nigerian capital.

Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.

Nigeria’s President, Bola Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.

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