Germany commits 65m euros to drive Nigeria’s reforms

The government of Germany has announced a 65 million euros commitment to help drive the reforms of the current government in Nigeria. Head of the German delegation, Mr Philipp Knill, disclosed this during the signing of the agreement on development cooperation between the Federal Republic of Nigeria and the Federal Republic of Germany in Abuja […]

The government of Germany has announced a 65 million euros commitment to help drive the reforms of the current government in Nigeria.

Head of the German delegation, Mr Philipp Knill, disclosed this during the signing of the agreement on development cooperation between the Federal Republic of Nigeria and the Federal Republic of Germany in Abuja on Thursday.

“For us, there’s a clear interest in having strong partners. The stronger the partners, the better we can work and engage, and we all know how strong Nigeria is.

“We know that Nigeria is a very important partner in the African Union and ECOWAS,  and we are also working very closely with the African Union and ECOWAS on… economic integration, peace and security.

“Actually, yesterday, we agreed on a cooperation for a total of 65 million euros, which, when compared to Nigerian realities, is a small amount of money. However, we need to be very committed to mobilising the private sector,mobilising all the important Nigerian institutions that work.

“Our Ministry for Economic Affairs and Energy has announced an offer for a 300 million credit line and for export credits with Nigeria. This should also open, let’s say, new ways,” he said.

While commending most of the reforms of the current administration, Mr Knill added that, “There is one important presidential initiative, the Presidential Power Initiative. The ambition of installing a 25 GW capacity grid. Siemens is very much engaged there, and we are happy to continue working with you on this subject.”

Nigeria’s Minister of State for Budget and Economic Planning, Dr Doris Nkiruka Uzoka-Anite, said the signing of the agreement marks a long-standing partnership between Nigeria and Germany.

“Today, we are witnessing the outcome of the negotiations which reflect our shared determination to deepen cooperation in critical sectors of the economy, including agricultural transformation and food systems, sustainable economic development, skills and employment, climate and energy transition, health systems strengthening, and peaceful and inclusive societies,” she said.

Uzoka-Anite confirmed that Germany will support Nigeria’s development priorities  through financial and technical cooperation commitment with 65 million euros.

“We also welcome the offer of the Export Credit Guarantee Financing Framework of 300 million euros for the Government of Nigeria, and this will also further support investment mobilisation and access to long-term financing for strategy development projects within the country,” she said.

While thanking the German government for all the significant demonstrations of partnership and confidence in Nigeria’s reform and the development agenda of President Bola Ahmed Tinubu, she assured you that “we will remain committed to ensuring that all our agri-programmes and interventions are effectively coordinated, nationally owned, and aligned with our development priorities under the National Development Plan 2026 to 2030 and our broader Agenda 2050”.