- Both countries would sign two energy deals at the 11th German-Nigerian Business Forum and WACEE in October.
- Germany offers reduced prices for Nigerian companies to ensure a balanced mix of Nigerian and foreign companies.
Nigeria and Germany are planning to sign two energy deals in October 2024, targeting over $500 million. The Consulate General, Germany, Lagos, Weert Borner, disclosed this during a press briefing, adding that this year’s deals will exceed the $500 million renewable energy pact and a gas export deal signed last year between Nigerian and German firms.
Borner said both countries would sign two energy deals at the 11th German-Nigerian Business Forum on October 7, 2024, in Lagos, and at the 12th West African Clean Energy and Environment Exhibition and Conference (WACEE) on October 8-9, 2024, also in the state.
Speaking on the business forum, he said it is an annual conference organised by the Delegation of German Industry and Commerce in Nigeria (AHK Nigeria) and the Afrika Verein, Berlin, Germany, supported by the German Federal Ministry for Economic Affairs and Climate Action, German Missions in Nigeria, German-Nigeria Chamber of Commerce.
Furthermore, Borner revealed Germany’s commitment to expanding its investment in Nigeria. Over 90 active German companies already operate in the country. Despite challenges, Germany aims to diversify and grow its investment portfolio in Nigeria.
Also speaking, the Project Manager, Competence Centre Energy and Environment, Delegation of German Industry and Commerce in Nigeria, Hilary Elegeonye, said WACCE is more of a global event, maintaining that the trade fair is expecting companies from many countries across the globe.
“We are offering reduced prices for Nigerian companies because we understand that it will be nice for us to have a balanced mix of Nigerian and foreign companies. We want to see more Nigerian companies so that they can also exchange ideas with foreign companies to boost investments,” Elegeonye added.