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From Isaac Anumihe, Abuja
As part of plans to crash the cost of building materials, especially, cement, federal government has reaffirmed Nigeria’s commitment to deepening economic and industrial co-operation with Germany and to translating the two countries’ longstanding relationship into concrete investment, technology, and industrial partnerships that support Nigeria’s productive capacity, competitiveness, and sustainable economic transformation.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, who spoke at the Germany–Nigeria Industrial Technology Conference, “Business Meets Nigeria”, in Abuja, at the weekend, highlighted President Bola Ahmed Tinubu’s bold economic reforms, aimed at removing structural distortions, strengthening the investment environment and restoring confidence in the private sector, stating that the government’s objective is to build an economy in which private enterprise can invest, expand productive capacity, generate jobs and create value.
He noted that Nigeria’s ambition to build a $1 trillion economy by 2030 will require strong private-sector participation, greater domestic value addition, and increased investment in manufacturing, mining, construction, and infrastructure, highlighting significant opportunities for German companies in industrial technology, equipment, processing, and infrastructure.
On financing, the minister emphasised the importance of bankable, investment-ready projects and appropriate financing mechanisms, including export credit, development finance, commercial lending and guarantees.
He cited the €300 million German export credit guarantee framework as an important component of the growing economic partnership between Nigeria and Germany.
Head of the VDMA delegation, Dr Chux Onaa, noted that German machinery and equipment manufacturers, with expertise across materials handling, cement and minerals processing, digitalisation and environmental technologies, can support Nigeria’s industrial ambitions by delivering solutions that enhance productivity, reliability and long-term competitiveness.
He reaffirmed VDMA’s commitment to translating this engagement into concrete opportunities for technology transfer, investment and industrial collaboration.
Deputy Head of Mission at the German Embassy in Nigeria, Ambassador Johannes Lehne, reiterated the strength of the Nigeria–Germany bilateral relationship, noting that Nigeria’s economic reforms have boosted trade and improved the ease of doing business.
He highlighted the range of financial instruments now available to German and Nigerian companies to scale up private-sector partnerships, describing them as tools that provide competitive financing for their projects—enabling companies to jointly develop the Nigerian market and build a long-term, productive relationship.
The conference reaffirmed both countries’ commitment to deepening economic and industrial co-operation and to translating the longstanding Nigeria–German relationship into concrete investment, technology and industrial partnerships that support Nigeria’s productive capacity, competitiveness and sustainable economic transformation.
Hosted by the German Engineering Federation (VDMA) in collaboration with the Embassy of the Federal Republic of Germany in Nigeria, the conference brought together government representatives, German engineering and technology companies, Nigerian businesses, financial institutions and industry stakeholders to explore opportunities for industrial investment, technology transfer, infrastructure development and stronger economic co-operation between Nigeria and Germany.
The gathering formed part of a high-level mission by 14 leading German companies in the cement, mining, construction and industrial technology sectors, who engaged Nigerian companies and stakeholders across Lagos and Abuja to identify partnerships for investment and industrial development.
