German Firms Target Nigeria’s €222bn Food Market to Boost Agri-Tech Investment

German companies are ramping up their interest in Nigeria’s burgeoning food sector, projected to reach €222 billion by 2026. Both nations are exploring stronger cooperation to improve food security, drive economic growth, and modernize the agricultural landscape, creating new opportunities for private sector investment.

Trade between the two countries is on the rise. Germany’s exports to Nigeria nearly doubled from $500 million in 2021 to $963.4 million in 2024, fueled by machinery, vehicles, electronics, chemicals, and agricultural inputs. Nigeria, in turn, exports cocoa and related products to Germany, cementing a mutually beneficial trade relationship.

At a recent Lagos reception for a German business delegation attending Agrofood Nigeria 2026, German Consul-General Daniel Krull highlighted the transformative potential of collaboration. “Better public-private alignment, improved logistics, and a change in investment mindset can turn Nigeria’s food challenges into a strength,” Krull said, stressing that German industry can contribute significantly to the country’s food system resilience.

Krull emphasized modern infrastructure, smallholder farmer empowerment, and revamping agricultural value chains as key to sustainable food security. He pointed out that Germany’s expertise in food processing, bottling, and additives could help Nigeria’s industrialization, while technology investments in storage, cold chains, and warehouses could drastically reduce food losses, currently affecting over 35% of local production.

Agrofood Nigeria, organized by Fairtrade Messe, showcased 137 exhibitors from 17 countries, with Germany playing a prominent role. Managing Director Paul Marz said the exhibition aims to transfer technology and build industry partnerships to increase local food production. Lagos State, the country’s largest food consumption hub, reaffirmed its strategic position in Nigeria’s food economy, with the market growing from N6.5tn in 2019 to over N16tn today.

source: punch