Pecohub Germany-Nigeria trade relations have recorded significant growth, rising by 30% to reach €3 billion.
Speaking ahead of the forthcoming Nigerian-German Binational Commission meeting scheduled to hold in Berlin, Ambassador Annett Gunther attributed the impressive growth to Nigeria’s ongoing economic recovery.
Gunther noted that Nigeria remains “Germany’s second biggest trading partner in Sub-Saharan Africa with a total trade volume of €3 billion. Trade volumes have increased this year by 30% due to Nigeria’s economic recovery.”
Gunther noted that over 90 German companies currently operate in Nigeria, indirectly creating about 17,000 jobs across various sectors. She added that more German investments are expected, particularly in the energy and pharmaceutical industries.
In the energy sector, the envoy revealed that the Presidential Power initiative was in the second phase.
In the area of visas and Migration, the envoy said no fewer than 7,600 visas were issued to students and short-term stay.
She also disclosed that plans were already in place to increase the number.
Gunther, however, stressed the need for legal migration.
She said: “All the common goals and projects would not work if they were not supported by travel on all levels between our two countries, plus legal migration.
“Last year alone, the German Embassy here in Abuja and the German Consulate General in Lagos granted around 1400 long-term visas for purposes such as study in Germany, family reunion and employment, as well as around 6200 visas for short-term stays such as business and tourism.
The envoy said, “This year, we are well on track to raise those numbers.
“The German missions remain committed to furthering the bilateral relations by granting visas to properly documented applications.”
In the area of military cooperation, she said Germany will continue to stand by Nigeria.
