Germany to invest in Nigeria’s renewable energy sector

Germany has pledged to increase its investments in Nigeria’s renewable energy sector and other non-oil sector following a visit by president Muhammadu Buhari.

In his four day visit to Germany President Buhari met and discussed energy issues  with German Chancellor Angela Merkel.

President Buhari said that during his visit the German Government   pledged to increase its investments in Nigeria, particularly in Nigeria’s renewable energy sector and other non-oil sector.

The German Government also pledged to aid Nigeria in addressing the challenges of urbanization and to encourage their businessmen to invest in Nigeria.

Foreign Affair minister, Geoffrey Onyeama on a press conference post presidential visit said that there has been discussion on the issue of the challenges of urbanization. He said Nigeria wants to partner up with German to develop the best mechanisms and practices to make Nigerian cities more habitable.

Mr. Onyeama also spoke about his plan to reverse rural urbanization by making the rural areas more attractive to the younger generation.

In addition, the minister said that Nigeria and Germany agreed on pushing this agenda in the global and multilateral levels.

He said that Germany also promised to contribute to Nigeria’s professional training skills that could be of help to develop Nigeria’s industrialized sector.

Onyeama said that the president also got the support of Germany on diversification of the economy in developing the farming sector.

President Buhari invited German investors to come up and invest in Nigeria renewable power and non –oil sectors. He reminded them that Nigeria had agreed to the Paris agreement on climate change .The president assured them that Nigeria is planning to invest in more clean energy sources.

The German Government considers this agreement   as a great strategic economic  move seeing that Lagos is the seventh largest economy in Africa .German have had a long good relationship with Nigeria and this agreement just improves on it.

NO COMMENTS

LEAVE A REPLY