The trade volume between Nigeria and Germany reached $3 billion in 2023, with Nigeria benefiting more from the trade relationship, according to Weert Borner, the Consul-General of the Federal Republic of Germany in Lagos. Nigeria’s exports to Germany, primarily crude oil and food products, amounted to $2 billion, while imports from Germany, mainly machinery and chemicals, totaled $1 billion.
Borner highlighted that over 90 German companies are active in Nigeria and expressed Germany’s interest in diversifying and expanding its investments in the country, despite the challenging business environment.
He made these remarks during a press briefing to announce the 11th German-Nigerian Business Forum, scheduled for October in Lagos.
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The forum, organized by the delegation of German Industry and Commerce in Nigeria, will bring together representatives from both countries’ public and private sectors to discuss opportunities for partnership across various industries, including agribusiness, energy, and vocational education. The event will also coincide with the 12th West African Clean Energy and Environment Exhibition and Conference (WACCE), aimed at fostering collaboration between Nigerian and foreign companies.
