Senate re-Introduces South West Development Commission BillBy Elizabeth Adegbesan

THE German Consulate General, Dr. Stefan Traumann, has called for an upgrade in Nigeria’s infrastructure to strengthen economic ties between the two countries.

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Speaking at the launch of the Nigerian-German Chamber of Commerce (NGCC) in Lagos, yesterday, Traumann said even though the economic ties between the two countries had lasted for 160 years with a trade value of 3.5 billion Euro, there is still need to deepen it.

He stated: “We have a very long history of economic cooperation, over 160 years already and Nigeria is Germany second biggest trade partner in Sub-Saharan Africa with a trade value of about 3.5 billion euro.

“Economic ties can be deepened. We need to pay more attention to infrastructure, especially in the areas of power, agriculture, financial services, manufacturing and vocational training.”

“We have more than 92 German companies in Nigeria employing directly, more than 10,000 people and generating annual turnover of more than $1 billion. It is impressive, but there is room for improvement, especially when it comes to the small and medium businesses.”

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On her part, the President NGCC, Onyeche Tifase, said the chamber was created to meet the needs of Nigerians and improve business environment for German investors in the country.


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