Posted by The German Ambassador to Nigeria, Mrs Annett Gunther, said commercial connections between Federal Republic of Nigeria and Federal Republic Germany now stands at nearly three billion euros.
Gunther, who made this known in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja, said that the commercial links between both countries have expanded over the years.
Specifically, she said the commercial connections expanded from two billion euros in 2022 to the present level of three billion euros with balance of trade in favour of Nigeria because of crude oil export
She said there was the possibility for progress on trade relations, which both countries were presently working on, notably 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 create 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.
The ambassador noted that several German delegations had attended Tradefairs in Lagos, notably the agri food festival with German companies participating and having one of the biggest pavilions.
She also said that the German Chamber of Trade and Commerce in Lagos represented German enterprises in the country.
According to her, Germany has over 90 enterprises with its representative offices in Nigeria noting that while some participate in commerce, while others have production facilities.
“Nivea is one of the German companies that has a real huge modern production facility in Nigeria. Nivea items such as the lotions and creams are German products that are made in Lagos.
“They have production facilities in Germany and these products produced in Nigeria are almost 100 per cent identical because it is the same quality and standard as the one in Germany .
“This is because the products raw materials such as oils, and fragrances are imported, the standard, quality and the smell has to be the same like others from the production facilities in Germany,’ she added.
Gunther applauded initiatives taken by president Bola Tinubu to restore the country’s economy.
” For production facility, you need investment, and of course, foreign direct investment, which is also very much needed in order to boost the economy which depends on the investment conditions.
“We have seen improvements under the new administration. Very major economic reform efforts have been implemented.
“But, as I said, this depends on the investment climate, which is improving already.
”As you know, we have the forex issue, and also I must say, the environment must be conducive,” she reiterated.