Nigeria, Germany ties cover €300m in export credit guarantees, says Bagudu

From Isaac Anumihe, Abuja

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said that trade discussions between Nigeria and Germany had covered co-operation involving €25 million and €300 million in export credit guarantees.

Bagudu identified these as important areas for continued engagement as Nigeria seeks to expand investment opportunities and strengthen its capacity to utilise available resources effectively.

The minister made the statement during a courtesy visit by the Ambassador of the Federal Republic of Germany to Nigeria, Stefan Rössel in Abuja.

He welcomed the ambassador and his delegation, expressing Nigeria’s appreciation for Germany’s longstanding partnership and support for the country’s economic reform programme, particularly in the early stages of implementation.

Bagudu recalled that when German Chancellor Olaf Scholz visited Nigeria, the Federal Government was pursuing significant economic reforms that required support from international partners, including Germany, the World Bank, the International Monetary Fund and the European Union.

The minister said Germany’s support has contributed to Nigeria’s progress in its reform efforts, adding that the country remains grateful for the co-operation and assistance it has received from its development partners.

The federal government also acknowledged Germany’s role in facilitating high-level engagements between the two countries, particularly in trade, investment and energy co-operation, noting that discussions during the Nigerian president’s visit to Germany advanced talks on key energy agreements.

Bagudu further commended Germany’s commitment to multilateral co-operation and international engagement, emphasising the importance of sustained partnerships to address evolving global economic and political challenges.

He noted that Nigeria and Germany had built a strong foundation for bilateral co-operation over the years, with significant opportunities to expand their partnership in areas that support economic growth and development.

According to him, Nigeria’s reform efforts have created an opportunity to place greater emphasis on attracting investment, strengthening productive capacity, and translating international partnerships into tangible economic outcomes.

He assured the German ambassador that the ministry was prepared to work closely with the German Government and its relevant institutions to deepen bilateral relations and broaden areas of mutual interest.

Earlier, Ambassador Rössel had expressed appreciation for the warm reception he received, describing the relationship between Nigeria and Germany as strong and longstanding.

The ambassador, who arrived in Nigeria a few weeks ago, reaffirmed Germany’s commitment to building on the partnership’s achievements and to exploring opportunities for further co-operation.

In a statement, he acknowledged that both countries were operating in an increasingly complex global environment characterised by evolving strategic, political and economic challenges.

Despite these circumstances, Ambassador Rössel expressed confidence that the longstanding relationship between Nigeria and Germany would provide a solid foundation for addressing emerging issues and sustaining mutually beneficial co-operation in the years ahead.

He also welcomed the ministry’s readiness to continue working with Germany, noting the importance of maintaining established partnerships while adapting to evolving circumstances.

In her remarks, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, congratulated Ambassador Rössel on his appointment, welcomed him to Nigeria, and expressed the ministry’s readiness to collaborate with him and with relevant German agencies.

She emphasised the importance of translating bilateral agreements and shared commitments into practical outcomes, noting that effective implementation remained critical to achieving the partnership’s objectives.

Uzoka-Anite assured the ambassador that the ministry would continue to facilitate collaboration and support efforts to ensure joint initiatives progressed efficiently and delivered meaningful results.

The Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr Deborah Odoh, also welcomed the German delegation, describing Germany as a reliable partner whose technical expertise, knowledge exchange and experience had contributed to Nigeria’s development.

She said the ministry expects the ambassador’s tenure to create further opportunities to strengthen co-operation and to advance the longstanding relationship between the two countries.

The courtesy visit reaffirmed Nigeria and Germany’s shared commitment to sustaining bilateral engagement, deepening economic co-operation, and exploring opportunities for expanded investment and development collaboration.

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