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, Abubakar Bagudu, the Minister of State for Budget and Economic Planning, 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 recognise 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 mobilise 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.
