Germany, Nigeria trade relation hits €3bn – Envoy 

The German Ambassador to Nigeria, Mrs Annett Gunther, has said trade relations between Nigeria and the Federal Republic Germany currently stands at about three billion euros.

Gunther, who made this known in an interview Sunday in Abuja, said the trade relations between both countries had grown over the years.

Specifically, she said the trade relations grew from two billion euros in 2022 to the current figure of three billion euros with balance of trade in favour of Nigeria because of crude oil export.

She said there was the potential for improvement on trade relations, which both countries were currently working on, especially in the area of agriculture.

“I think agriculture is a very good area for cooperation, not only because we can help in the area of food security, which is important to Nigeria, but also in improvement of export of processed products.

“Instead of selling more raw products, we will have more value creation within the country to create more jobs.

“As part of our development cooperation, we have a programme in agriculture that also focuses on exactly that value chain, which supports small and medium size enterprises in the sector,” she said.

The envoy said many German delegations had attended Tradefairs in Lagos, like the agri food festival with German companies participating and having one of the biggest pavilions.

She further stated that the German Chamber of Trade and Commerce in Lagos represented German companies in the country.

She said Germany has about 90 companies with its representative offices in Nigeria adding that while some engaged in trading, some others have production facilities. NAN