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Lagos State Governor, Babajide Sanwo-Olu, said Nigeria has a lot of lessons to learn from Germany’s industrialization trajectory as the nation seeks to reverse its infrastructural deficit
Lagos State Governor, Babajide Sanwo-Olu, said Nigeria has a lot of lessons to learn from Germany’s industrialization trajectory as the nation seeks to reverse its infrastructural deficit. Sanwo-Olu spoke at a German-Nigerian business conference, hosted by the Delegation of German Industry and Commerce in Nigeria, the Nigerian-German Chamber of Commerce, and the Federal Ministry for Economic Affairs and Climate Action (BMWK). The conference coincided with the visit of Federal Chancellor, Olaf Scholz, to Nigeria to strengthen bilateral ties between both countries. The Governor said Nigeria has emerged as an important political, economic, and cultural partner of Germany in Africa, with many success stories to share.
Sanwo-Olu said his administration has been very deliberate about implementing strategic policies and intentional in its goal to attract investment into the state. Beyond the current offering in trade and investment, energy, environment, vocational training, and academic exchange, the Nigerian government is prioritizing investment from prospective German investors in other critical areas such as building climate-resilient infrastructure in transportation, housing, health, agriculture, and other sectors,” he said.
In his address, Scholz said his visit was to increase trade and investment as well as improve local manufacturing. He noted that the country is investing heavily in energy, which he said aims to foster hydrogen and all the things that are important for an economy that can produce all the necessary goods for the people without harming the environment.
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President of the Nigerian-German Chamber of Commerce (NGCC), Igbuan Okaisabor, said the conference catalysed building stronger and more prosperous relationships between Nigeria and Germany to facilitate trade and spark innovation that would drive both economies. According to him, both countries have promoted trade, and relations for over 37 years and have facilitated business, opened doors, and built valuable relationships in tech, power, talent training, manufacturing, finance, construction, and investment.
