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Nigeria Strengthens Economic Ties with Germany to Boost Investment and Job Creation

Olusola Blessing by Olusola Blessing
February 6, 2025
in Business, News
0
Nigeria Strengthens Economic Ties with Germany to Boost Investment and Job Creation
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The Nigerian government has reaffirmed its commitment to deepening economic cooperation with Germany to attract foreign direct investment (FDI) and create jobs, particularly through vocational training and skilled migration.  

Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, made this known in Abuja while receiving a delegation from Germany’s IHK Giessen-Friedberg Chamber of Commerce and Industry. The delegation’s visit aims to explore investment opportunities and strengthen Nigeria-Germany business relations, with a focus on vocational training, workforce development, and structured labour migration. 

Oduwole highlighted the alignment between Germany’s initiatives and Nigeria’s national priorities, particularly in talent development and skills export. She emphasized the government’s commitment to expanding vocational training and managed migration to enhance youth employment.  

“One of our priority programs, the National Talent Export Programme, is being repositioned to scale up Nigerian youth in services, vocational training, and managed skills migration,” she said.  

The minister noted that Nigeria’s youthful and skilled workforce presents an opportunity for Germany, which faces increasing labor demands. Discussions also covered structured migration pathways that would benefit both economies.  

Oduwole endorsed Nigeria’s participation in the upcoming World Meets in Giessen Conference, a global business networking event set for May 20-21, 2025, in Germany.  

The German delegation, led by Matthias Leder, President of the Giessen Chamber of Commerce and Industry, underscored the mutual benefits of stronger economic cooperation. Leder extended an invitation for Nigerian businesses and officials to attend the Giessen conference, which will provide networking and investment opportunities in a B2B format.  

“We offer a B2B conference where companies from around the world can come to Giessen to network and pitch. We also invite ministers, ambassadors, and consul generals, as they serve as the perfect door openers to enter a foreign market,” Leder said.  

He also highlighted the success of Germany’s dual vocational training system in Nigeria, which has been implemented in Abuja, Abeokuta, and Lagos. The program has significantly reduced youth unemployment, with over 95% of apprentices securing job offers.  

“We are convinced this is a key factor for Nigeria’s development and growth,” Leder added.  Nigeria’s collaboration with Germany is expected to enhance long-term economic opportunities through workforce development, labour mobility, and foreign investment. The partnership could attract international businesses eager to tap into Nigeria’s growing market while addressing Germany’s skilled labor shortages.  

Alhaji Lai Mohammed, Managing Partner of Bruit Costaud, praised the collaboration and emphasized its potential impact on economic and trade relations.  

“We deeply appreciate your time and engagement, and we believe this collaboration will yield meaningful outcomes that will further strengthen the economic and trade relationship between Nigeria and Germany,” he said.  

With Nigeria positioning itself as a global talent hub, the strengthened ties with Germany are poised to drive economic growth, create employment, and open new avenues for investment and innovation.

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