Nigeria and Germany have signed a €365m development and investment partnership agreement to support economic growth, energy expansion, agriculture, and private-sector development in Nigeria.
The agreement was signed on Thursday at the German Embassy in Abuja by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, and senior German government officials, according to a statement issued by the Federal Ministry of Budget and Economic Planning.
Speaking during the signing ceremony, Uzoka-Anite said, “We recognize that development cooperation must increasingly catalyse investment, innovation, and sustainable financing. This partnership is therefore not merely procedural; it is a concrete affirmation of our shared commitment to improving our people’s lives.”
The statement noted that the agreement includes a €65m financial and technical cooperation commitment from Germany, as well as an additional €300m Export Credit Guarantee financing framework to mobilize investments and long-term funding for strategic projects in Nigeria.
Uzoka-Anite described the deal as a reaffirmation of the long-standing partnership between Nigeria and Germany, noting that both countries had agreed to deepen cooperation in key sectors, including agricultural transformation, climate and energy transition, sustainable economic development, skills acquisition, health systems strengthening, and peaceful societies.
She noted that the partnership came at a critical stage in Nigeria’s ongoing economic reforms under President Bola Tinubu, saying the reforms were necessary to unlock long-term economic growth and prosperity.
The minister also added that all projects under the agreement would be aligned with Nigeria’s National Development Plan for 2026 to 2030 and the country’s broader Agenda 2050 strategy.
In her remarks, the German Ambassador to Nigeria, Annett Günther, said the signing followed extensive bilateral engagements between both countries aimed at reviewing progress and strengthening future cooperation.
She said the negotiations attracted participation from several Nigerian ministries, German development institutions, members of the European Union and other stakeholders involved in development cooperation.
Also speaking at the event, Deputy Director General of Germany’s Federal Ministry for Economic Cooperation and Development, Mr. Philip Knill, described Nigeria as “a giant in Africa” and a strategic partner in regional economic integration, peace, and security.
Knill disclosed that the German delegation held meetings with Nigerian and German businesses during the visit, including discussions around power, agriculture, digital economy, and industrial development.
He also praised Nigeria’s ongoing economic reforms, particularly foreign exchange liberalisation, tax reforms, and food security initiatives, noting that Germany considers them important for attracting long-term investment into the country.
Knill further announced that Germany’s Ministry for Economic Affairs and Energy had offered a €300m export credit line to support bilateral trade and investment between both countries.
Highlighting the impact of existing programmes under the Nigeria-Germany partnership, he said more than 16,000 small and medium-scale businesses have improved their income through joint intervention programmes, while about 600,000 farming households have benefited from agricultural training initiatives that increased productivity and earnings.
According to him, over 70,000 Nigerians are also benefiting from mini-grid electricity projects supported under the partnership.
The signing ceremony concluded with both countries reaffirming their commitment to translating the partnership into measurable development outcomes through stronger institutional collaboration, private-sector mobilisation, and strategic investments.
