Nigeria, German Trade Relations in Excess of €3b

The German Ambassador to Nigeria, Annett Gunther, says trade relations between Federal Republic of Nigeria and Federal Republic Germany currently stands at about three billion euros.

Gunther, in a statement made available to The Nation, noted that trade relations between both countries had grown over the years.

Specifically, she said the trade relations grew from two billion euros in 2022 to the current figure of three billion euros with balance of trade in favour of Nigeria because of crude oil export.

She however assured that there is huge potential for improvement in trade relations, which both countries were currently working on, especially in the area of agriculture. “I think agriculture is a very good area for cooperation, not only because we can help in the area of food security, which is important to Nigeria, but also in improvement of export of processed products.”

“Instead of selling more raw products, we will have more value creation within the country to creates more jobs. “As part of our development cooperation, we have a programme in agriculture that also focuses on exactly that value chain, which supports small and medium size enterprises in the sector,” she said.

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