By Ifeanyi Ugwuadu
Under a bilateral trade agreement to deepen Nigerian-German business relationship, Germany has offered to help stop gas flaring in the country in exchange for a g
reater access to Nigeriaâ€™s gas reserves. This is contained in Nigerian-German Energy Partnership, a Memorandum of Understanding already signed by the two countries last year.
Instead of flaring gas, German companies would tap into the gas and harness it for commercial use, said German consul official at a press briefing last week in Lagos.Â The event witnessed the introduction of the new Consul-General of the Federal Republic of Germany, Mr Walter Driesch.
The energy MOU signed between the two countries involves German companies refurbishing and upgrading Nigeriaâ€™s power plants as well as providing wind and solar power to rural areas that are not connected to the national grid in exchange for access to Nigeriaâ€™s gas reserves.
The Partnership has seen technical training for officials of Power Holding Company of Nigerian by German companies in the course of the year, said Christina Jockle, economic attachee at the German Embassy in Abuja.
She disclosed that trade between Nigeria and Germany doubled in the last one year and growing steadily since a change from civil rule to civil rule was achieved about two years ago. In addition, she said that potentials in the Nigerian economy and better understanding of the countries business environment have informed a new thinking in Germany that business relationships between its people and Nigeria should expand to cover all areas of the economy.
Similarly explaining the renewed interest in Nigeriaâ€™s economy, chief operating officer of Nigerian-German Business Association, Dr Jaiye Doherty, stated
Doherty disclosed that several delegations from Nigeria to Germany and from Germany to Nigeria have continued to cement the aspirations of both countries to increase the volume of business done by them.
Following on the success of the first German-Nigerian Business Forum held in Frankfurt last year which brought about 150 companies in Germany and 80 companies from Nigeria together, the organisers stepped up the tempo of interaction between the two countries.
Consequently, the second edition comes up in Abuja in a fortnight from today to drive the partnership further to friution.