Nigeria : Strengthening partnership with Germany following President Frank-Walter Steinmeier’s visit
On December 11, German President Frank-Walter Steinmeier met with his Nigerian counterpart Bola Ahmed Tinubu in Abuja to discuss their energy partnership and explore new opportunities, including in hydrogen production.
« We have one of Germany’s longest-standing energy partnerships with Nigeria, » Steinmeier noted. While initially focused on oil and gas, the collaboration has shifted toward renewable energy and hydrogen development.
Accompanied by a delegation of German companies, Steinmeier praised Tinubu’s economic reforms, which, despite challenges like high inflation, aim to attract foreign investment. German businesses see encouraging signs of improved investment conditions.
In November 2023, Union Bank of Nigeria and Germany’s DWS Group signed a memorandum of understanding to invest $500 million in renewable energy. Additionally, Riverside LNG committed to delivering 850,000 tons of natural gas to a German firm.
During his visit, Steinmeier will also meet Omar Alieu Touray, president of ECOWAS, and travel to Lagos to engage with business leaders and cultural figures before concluding his trip on Thursday.
