Germany To Increase Investment In Nigeria’s Renewable Energy

The German Government
has pledged to increase its investment in Nigeria, especially in renewable energy and other non-oil sector.
The German also pledged to help Nigeria address the challenges of urbanisation.
Foreign Affairs Minister Geoffrey Onyeama said this in Abuja at a press conference on post President Muhammadu Buhari’s visit to Germany.
Onyeama said that the investment promise from Germany was the outcome of high level meetings between Buhari and German Chancellor Angela Merkel during his visit.
It could be recalled that Buhari embarked on a four-day official visit to Germany on Oct. 13 to discuss issues of shared interests between Nigeria and Germany.
He said that during the visit, the German government pledged to do everything to encourage their businessmen to invest in Nigeria.
According to him, there is discussion on the issue of the challenges of urbanisation and they want to partner with Nigeria to develop best practices and mechanism to make our city more habitable.
He said that Buhari also talked about his initiative to reverse rural urbanisation to make the rural areas more attractive to young people, which he said the Germany government bought into.
Besides, the minister said that Nigeria and Germany agreed on pushing this agenda in the international and multilateral levels.
He said that Germany also pledged to share with Nigeria vocational training skill that could be of help to develop Nigeria’s manufacturing sector.
Onyeama said that the president also gained the support of Germany on diversification of the economy in developing the agricultural sector.
The minister added that Buhari during the meeting invited German investors to come and invest in Nigeria’s renewable energy and other non-oil sector.
He noted that Buhari pointed out to them that Nigeria had acceded to Paris agreement on climate change and we are going to be investing in more cleaner energy sources.
“There is need for technology on renewable energy, so he invited them to come and invest that Nigeria is open to investors in this regard,” he said.