Nigeria and Germany have signed a €365 million development and investment partnership agreement to support economic growth, energy expansion, agriculture and private sector development in Nigeria, with the deal signed on Thursday at the German Embassy in Abuja.
The agreement was signed 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 the partnership includes a €65 million financial and technical cooperation commitment from Germany, as well as an additional €300 million Export Credit Guarantee financing framework to mobilise investments and long-term funding for strategic projects in Nigeria.
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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.
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