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FDI from Germany in 2008 put at 138m Euro

THE Germany Embassy said in Abuja on Wednesday that Foreign Direct Investment (FDI) from that country to Nigeria in 2008 was 138 million Euro. Mr Cord Busche, the First Secretary, Press and Cultural Section, made this known to the News Agency of Nigeria (NAN) at the forthcoming 2ndGerman-Nigeria Business Forum coming up in Abuja from Nov. 9 to Nov. 10.

Busche said that the figure showed an increase in 2006 and 2007 of 49 million Euros and 58 million Euros respectively.

On the Business Forum, he said it was aimed at strengthening economic ties between both countries after an MoU was signed in respect of the Nigerian-Germany Energy Partnership in August 2008.

He said the forum would involve Nigerian public and private sector representatives and decision makers, including those of the local German business community with German company representatives.Busche added that German President Horst Kohler had during his visit to Nigeria in November 2008 advocated for closer Germany private sector involvement in all sector of the Nigerian economy.

“Nigerian and German experts will present and discuss in the sectors such as energy and oil, infrastructure, banking and finance, IT, education and pharmaceutical,’’ he said.The First German-Nigeria Business Forum was held in 2008 in Frankfurt in collaboration with the Nigeria-German Business Association.

 The German Technical Cooperation (GTZ), a German InternationalCooperation Enterprises for sustainable development has been operating in Nigeria based on a 1974 bilateral agreement.The GTZ’’s development interventions span health, business promotion, vocational training and natural resource management.


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