Germany’s Foreign Minister, Johann Wadephul, has called for expanded trade and investment partnership with Nigeria, describing the country as an economic powerhouse and highlighting opportunities to deepen cooperation in business, technology, innovation and the creative economy.
Wadephul made the remarks on Tuesday at a networking reception hosted by the German Embassy in Lagos during his official visit to Nigeria. The event brought together government officials, business leaders, investors and members of a German business delegation to explore new opportunities for economic cooperation between both countries.
“I want to see our trade and investment relations with Nigeria expanded,” the minister said.
He described Nigeria as Germany’s second most important trading partner in sub-Saharan Africa and Africa’s largest domestic market, saying the country presents significant opportunities for German businesses, particularly in mechanical engineering, chemical products and foodstuffs.
While noting that Germany and Nigeria already cooperate in energy, climate and raw materials, Wadephul said there was considerable untapped potential in technology and innovation.
“But we can do much more. Particularly in the fields of IT and tech start-ups, Nigeria’s IT hub offers enormous potential that we have not yet fully recognised or exploited.”
The minister said companies that fail to establish a presence in Africa risk missing major opportunities, adding that this informed his decision to visit Lagos with a large business delegation.
“After all, anyone who does not have a presence in Africa today risks missing out on crucial opportunities. That is why I am here in Lagos, Nigeria’s economic and cultural hub, with a large business delegation.”
Emphasising the importance of stronger collaboration between both countries, Wadephul said:
“We want to work together, Germany and Nigeria, Europe and Africa, striving for security, freedom and prosperity for our nations.”
He also said discussions with young Nigerian influencers highlighted the country’s entrepreneurial ambition and reinforced the need for Germany to strengthen its engagement with Africa.
“They told me about the future they envisage for their country and the creative ideas they have for shaping the Nigeria of tomorrow. But they also made it clear to me what they expect from Germany and from Europe: that we finally focus more closely on the African continent, that we make even greater use of the economic opportunities available, and that we boost investment.”
Wadephul praised Nigeria’s entrepreneurial and creative strengths, saying Germany had much to learn from the country’s innovation and youthful talent.
“It is no coincidence that Nigeria is home to so many successful companies, artists and world-renowned musicians. We in Europe and in Germany have a great deal to learn from this entrepreneurial spirit and this creative drive.”
Expressing optimism about engagements between German and Nigerian business leaders, the minister said he hoped the discussions would lead to tangible outcomes.
“I hope this will provide concrete impetus for the expansion of our economic and trade relations.”
Ademide Adebayo
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