Nigeria, Germany Sign New Economic Development Deal

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The Federal Government and the Republic of Germany have signed a €70million financing bilateral agreement.

The agreement which took place in Abuja on Friday was on sustainable economic development, renewable energy, polio eradication, internally-displaced persons and host communities in northern Nigeria, education, peace and security.

At the signing ceremony, Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, explained that the areas of intervention by Germany “were in line with economic sustainability and inclusive growth contained in Nigeria’s Economic and Recovery Growth Plan”.

Agba said that the agreement had provided “a platform for a coordinated approach to economic cooperation” between the two countries whilst commending the German government for its continuous support and commitment to the development of Nigerian since the 1960s.

In his remarks, leader of the delegation and head of the German Ministry of Economic Cooperation and Development (BMZ), Mr. Christoph Raul, maintained that his country was pleased with the efforts of the present government at growing the economy, recalling further that the Republic of Germany had partnered with Nigeria on polio eradication.

Raul also expressed the commitment of his country to assist Africa’s biggest nation to achieve its economic policies.

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