Nigeria, Germany Sign €365m Development Deal to Boost Energy, Agriculture and Investment Growth
Nigeria and Germany have entered into a major €365 million development and investment partnership aimed at accelerating economic growth, expanding energy access, strengthening agriculture, and boosting private-sector development in Nigeria. The agreement was signed on Thursday at the German Embassy in Abuja, marking a new phase in bilateral cooperation between both nations.
The deal was formally signed by Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Bagudu, alongside Minister of State, Dr Doris Uzoka-Anite, and senior German officials. According to the Federal Ministry of Budget and Economic Planning, the partnership includes €65 million in direct financial and technical cooperation, as well as a €300 million export credit guarantee designed to unlock large-scale investments into strategic sectors.
Speaking at the signing ceremony, Uzoka-Anite described the agreement as more than a routine diplomatic exercise, stressing that it reflects a shared commitment to improving lives through sustainable development. She noted that the partnership aligns with Nigeria’s ongoing economic reforms under President Bola Tinubu and supports long-term national development goals, including the National Development Plan 2026–2030 and Agenda 2050.
German officials also highlighted the depth of the collaboration, noting that discussions involved multiple ministries, development agencies such as GIZ and KfW, and private sector players. Germany’s Federal Ministry for Economic Cooperation and Development praised Nigeria as a key strategic partner in Africa, adding that major German companies including Siemens, SAP, Bayer, and STIHL are already exploring opportunities in the country’s energy, agriculture, and digital sectors.
Beyond the new agreement, both countries pointed to existing successes under their cooperation, including support for small businesses, improved agricultural productivity for hundreds of thousands of farming households, and ongoing renewable energy projects benefiting tens of thousands of Nigerians. The partnership also reinforces efforts to expand Nigeria’s power grid capacity and attract more foreign investment, as both nations pledged to ensure the deal delivers measurable economic impact.
source: punch