Nigeria Seals €70m Economy Pact With Germany

The Federal Government on Friday signed a €70 million economic cooperation agreement with the government of Germany.

This was disclosed by the Minister of State for Finance, Budget and National Planning, Clem Agba who sealed the deal on behalf of the Federal Government. The Head of German Delegation to Nigeria, Christoph Rauh, signed for his government.

The agreement, according to Agba, would enable the government of Germany to provide assistance to the country in key areas of the economy.

Speaking at the event, Agaba described Germany as a reliable partner in terms of bilateral economic cooperation.

He stated that Germany would be intervening in areas such as infrastructure finance, governance, renewable energy, vocational training, job creation, microfinance, ease of doing business, polio eradication and safe school initiative, among others.

Nigeria Seals €70m Economy Pact With Germany

“The areas of interventions by the government of Germany are in line with economic sustainability and inclusive growth.

“We must therefore, make necessary efforts to ensure that the opportunities offered by these interventions and other similar initiatives are not misplaced.”

Commenting on the bilateral agreement, Rauh said the intervention in Nigeria was based on his country’s strategic plan for Africa.

He commended the Federal Government on the reforms being implemented in the areas of ease of doing business, corruption and money laundering and urged the government to increase the level of support to displaced people in the North- East region.

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