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From Isaac Anumihe, Abuja
The Federal Government is seeking deeper industrial cooperation with Germany as part of efforts to bring down the cost of building materials, particularly cement in a move to expand Nigeria’s manufacturing and construction capacity.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, disclosed this at the Germany–Nigeria Industrial Technology Conference, “Business Meets Nigeria”, in Abuja at the weekend.
Bagudu said the partnership would focus on attracting German investment, technology and equipment into key sectors, including cement, mining, construction, infrastructure and industrial processing.
He said Nigeria’s economic transformation required a stronger partnership with the private sector and greater access to modern industrial technology, stressing that the government was working to remove structural bottlenecks, improve the investment environment and restore confidence among investors.
According to him, President Bola Ahmed Tinubu’s economic reforms are designed to create an environment where private businesses can invest, expand productive capacity, generate employment and create value.
He said Nigeria’s ambition to build a $1 trillion economy by 2030 could not be achieved without significant private-sector investment and increased domestic value addition.
The minister identified manufacturing, mining, construction and infrastructure as areas with substantial opportunities for German companies, particularly in the supply of industrial machinery, processing technology and infrastructure solutions.
Bagudu also stressed the need for projects to be properly structured and made investment-ready, noting that access to appropriate financing would be critical to translating investment opportunities into actual industrial projects.
He identified export credit, development finance, commercial lending and guarantees among the financing mechanisms that could support the partnership.
The minister specifically cited the €300 million German export credit guarantee framework as an important component of the expanding economic relationship between both countries.
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Head of the VDMA delegation, Dr Chux Onaa, said German manufacturers of machinery and industrial equipment could play a major role in Nigeria’s drive to expand production and reduce industrial costs.
He said German companies had expertise in materials handling, cement and minerals processing, digitalisation and environmental technologies, which could help Nigerian industries improve productivity, reliability and long-term competitiveness.
Onaa reaffirmed the German Engineering Federation’s commitment to converting the engagement into concrete opportunities for technology transfer, investment and industrial collaboration.
Also speaking, Deputy Head of Mission at the German Embassy in Nigeria, Ambassador Johannes Lehne, said the longstanding relationship between both countries provided a strong foundation for expanded private-sector partnerships.
Lehne said Nigeria’s ongoing economic reforms had improved trade prospects and the business environment, while pointing to the availability of various financial instruments to enable German and Nigerian companies to scale up investments.
He said the financing mechanisms would provide competitive funding for projects and enable companies from both countries to jointly develop the Nigerian market on a long-term basis.
The conference, hosted by the German Engineering Federation (VDMA) in collaboration with the German Embassy in Nigeria, brought together government officials, German engineering and technology companies, Nigerian businesses, financial institutions and industry stakeholders.
Discussions focused on industrial investment, technology transfer, infrastructure development and mechanisms for strengthening economic cooperation between Nigeria and Germany.
The engagement formed part of a high-level mission involving 14 leading German companies operating in the cement, mining, construction and industrial technology sectors.
The companies held engagements with Nigerian businesses and other stakeholders in Lagos and Abuja to identify investment opportunities, technology partnerships and areas for industrial development.
