Efforts to attract Foreign Direct Investments (FDIs) into Nigeria appear to be gaining traction, as several German firms have expressed interest in exploring the country’s vast mineral resources.
Deputy Head of Mission at the German Embassy in Nigeria, Ambassador Johannes Lehne, revealed that German companies are actively assessing investment opportunities.
As part of their exploration, these firms have conducted satellite mapping of Nigeria’s mineral deposits and are engaging with state governments to secure potential investment deals.
Speaking on Nextier’s ‘Crossing Perspectives’ Podcast with Dr. Ndu Nwokolo, Managing Partner at Nextier, Lehne acknowledged Nigeria’s economic potential but stressed that improvements in security and energy infrastructure are crucial for sustaining foreign investments.
Discussions between the German government and Nextier, a public policy think-tank, focused on Germany’s evolving development cooperation with Nigeria and the broader West African region.
Key topics included economic growth, security, climate resilience, and investment opportunities.
Lehne highlighted Germany’s long-standing partnership with Nigeria and recognized the country’s recent economic improvements.
He noted that the German government acknowledges the impact of reforms introduced by President Tinubu over the past two years, citing positive developments such as declining inflation, stabilizing foreign exchange reserves, and increasing oil production.