The German ambassador to Nigeria, Annett Gunther, says trade relations between Nigeria and Germany currently stand at about €3 billion.

Ms Gunther, in an interview on Sunday in Abuja, said the trade relations between both countries had grown over the years.

Specifically, she said trade relations grew from €2 billion in 2022 to €3 billion, with the balance of trade in favour of Nigeria because of crude oil exports.

She said there was the potential for improvement on trade relations, which both countries were currently working on, especially in the area of agriculture.

“I think agriculture is a very good area for cooperation, not only because we can help in the area of food security, which is important to Nigeria, but also in the improvement of the export of processed products.

“Instead of selling more raw products, we will have more value creation within the country to create more jobs.

“As part of our development cooperation, we have a programme in agriculture that also focuses on exactly that value chain, which supports small and medium size enterprises in the sector,” she said.

The envoy said many German delegations had attended trade fairs in Lagos, like the agri-food festival, where German companies participated and had one of the biggest pavilions.

She further explained that the German Chamber of Trade and Commerce in Lagos represented German companies in the country.

Ms Gunther said Germany has about 90 companies with representative offices in Nigeria, adding that while some are engaged in trading, others have production facilities.

She commended steps taken by President Bola Tinubu to reform the country’s economy.

“We have seen improvements under the new administration. Very important economic reform steps have been taken.

“But, as I said, this depends on the investment climate, which is improving already.

” As you know, we have the forex issue, and I must also say the environment must be conducive,” she reiterated. 

( NAN)