Trade between Germany and Nigeria surpasses €3 billion

The German Ambassador to Nigeria, Mrs. Annett Gunther, highlighted that the trade relations between the Federal Republic of Nigeria and the Federal Republic of Germany have reached a significant milestone, currently standing at approximately three billion euros.

Gunther emphasized that this growth in trade relations has been a gradual process over the years, starting from two billion euros in 2022 and steadily increasing to the current figure.

She also pointed out that Nigeria benefits from a trade surplus due to its crude oil exports.

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Gunther expressed optimism about the potential for further enhancement of trade relations between the two countries, particularly focusing on the agricultural sector.

She emphasized the importance of cooperation in agriculture to address food security challenges in Nigeria and to promote the export of processed products, thereby adding value and creating more employment opportunities within the country.