Lagos, Nigeria - Under a new policy being promoted by Germany, Europe’s biggest economy, Nigeria may soon emerge the country’s major trade destination in Africa, according to the Head of the delegation of 13 German investors to Nigeria, Roland Meibner.
Meibner was quoted by the local media Monday as saying the new bilateral trade configuration, under a “a proactive policy” with focuses on new investments in energy, health care, maritime and financial services, would put Nigeria above South Africa as the European nation's major trade destination.
Meibner said his delegation came to Nigeria with the approval of the German government to explore some of the yet-to-be tapped resources in the country, adding that the German government has identified Nigeria as her trade investment destination in Africa, where it hopes to leapfrog her investment interests in the continent.
“When you think about Nigeria, you think about her oil and gas industry. But I think that Nigerian government is about planning to diversify her sectors, which means there are other sectors to invest in, apart from the one I had earlier mentioned.
''These sectors are telecommunication, construction, health care, maritime as well as financial services, including commercial bank. So these sectors are interesting sectors for investment purposes, especially for German companies willing to set up business in Nigeria,” he said.
He said Nigeria remained an important market for his country, noting: “As far as Nigeria is concerned, we do a lot business here with the presence of some German companies such as Julius Berger, DHL Courier Service Limited and others.''
''We did a lot of business throughout the year in Southern Africa, particularly South Africa and the Mediterranean nations. But we think the future of Africa lies in the Western part of Africa, because the big markets are here and Nigeria has the biggest market in this region,” he added.
President of the Delegation of German Industry and Commerce in Nigeria, Andre Ronne, said the volume of trade between Germany and Nigeria hit 4 billion euros last year.
According to him, the balance of trade was in favour of Germany, because export from Germany to Nigeria had increased by 80 per cent as at 2011.
“Nigeria is the second most important business destination for German companies in sub-Sahara Africa. The first is South Africa. Nigeria has a bilateral trade volume with Germany on annual basis in the region of 4 billion euros,'' Ronne said.
Meibner was quoted by the local media Monday as saying the new bilateral trade configuration, under a “a proactive policy” with focuses on new investments in energy, health care, maritime and financial services, would put Nigeria above South Africa as the European nation's major trade destination.
Meibner said his delegation came to Nigeria with the approval of the German government to explore some of the yet-to-be tapped resources in the country, adding that the German government has identified Nigeria as her trade investment destination in Africa, where it hopes to leapfrog her investment interests in the continent.
“When you think about Nigeria, you think about her oil and gas industry. But I think that Nigerian government is about planning to diversify her sectors, which means there are other sectors to invest in, apart from the one I had earlier mentioned.
''These sectors are telecommunication, construction, health care, maritime as well as financial services, including commercial bank. So these sectors are interesting sectors for investment purposes, especially for German companies willing to set up business in Nigeria,” he said.
He said Nigeria remained an important market for his country, noting: “As far as Nigeria is concerned, we do a lot business here with the presence of some German companies such as Julius Berger, DHL Courier Service Limited and others.''
''We did a lot of business throughout the year in Southern Africa, particularly South Africa and the Mediterranean nations. But we think the future of Africa lies in the Western part of Africa, because the big markets are here and Nigeria has the biggest market in this region,” he added.
President of the Delegation of German Industry and Commerce in Nigeria, Andre Ronne, said the volume of trade between Germany and Nigeria hit 4 billion euros last year.
According to him, the balance of trade was in favour of Germany, because export from Germany to Nigeria had increased by 80 per cent as at 2011.
“Nigeria is the second most important business destination for German companies in sub-Sahara Africa. The first is South Africa. Nigeria has a bilateral trade volume with Germany on annual basis in the region of 4 billion euros,'' Ronne said.
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