The Consulate-General of Germany in Lagos, Weert Borner, announced that trade between Nigeria and Germany reached $3 billion in 2023, with Nigeria benefiting more from the partnership.
Nigerian exports to Germany, primarily crude oil and food products, accounted for $2 billion, while German exports to Nigeria, mainly machinery and chemicals, totaled $1 billion.
Borner highlighted that despite the challenging business environment, Germany aims to diversify and expand its investments in Nigeria, supported by over 90 active German companies in the country.
He shared this during a briefing for the upcoming 11th German-Nigerian Business Forum in Lagos, which will focus on fostering partnerships across various sectors.
The forum, organized by the delegation of German Industry and Commerce in Nigeria, will feature discussions on key areas such as agribusiness, renewable energy, and vocational education.
The event aims to strengthen Nigerian-German collaborations and will coincide with the West African Clean Energy and Environment Exhibition and Conference (WACCE), which seeks to boost investment and idea exchange between Nigerian and international companies.
Punch