Skip to main content

Nigeria, Germany sign pact to deepen trade relations

Lagos Chamber of Commerce and Industry (LCCI)

Lagos Chamber of Commerce and Industry (LCCI)

The Lagos Chamber of Commerce and Industry (LCCI) and a delegation of German Industry and Commerce (DGIC) have signed a pact to boost trade, investment and knowledge transfer between both countries.

This is contained in a statement by Mr Muda Yusuf, Director General of LCCI and made available to newsmen on Friday in Lagos.

Yusuf said that the Memorandum of Understanding (MoU) would strengthen the shared interest of reinvigorating the Nigerian-German business relations.

He said that the pact was timely considering the country’s need for foreign exchange inflows for diversifying and strengthening the non-oil sector of the economy.

“The Nigerian economy is in dire need of diversification at this time, given the collapse of oil price.

“It is our belief that the Federal Republic of Germany has tremendous support to offer in our quest for economic diversification.

“We have had very good relationship with the German embassy as well as its commercial arm over the years.

“This MOU will further strengthen our relationship. It is a collaboration that will be mutually beneficial to the economies and citizens of our two countries.

“Germany is the largest economy in Europe, while Nigeria is the largest economy in Africa. We have different endowments, competencies and skills.

“There cannot be a better basis for partnership than this. It will truly foster and increase Nigerian-German business relations.”

Responding, the DGIC said that its partnership with LCCI was to add value to Nigeria’s international trade relations and unlock the potential in doing business with Germany.

Comments

Popular posts from this blog

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...

Fire: UniJos Senate convenes emergency meeting on Monday

Fire at the University of Jos Library University of Jos is to convene an emergency senate meeting on Monday to review the level of damage done to the institution by the Saturday night inferno. The Vice Chancellor, Prof. Sebastian Maimako, disclosed this on Sunday after inspecting areas affected by the incident. The fire, which lasted for more than six hours, destroyed the Library Complex that equally houses the faculties of management and social sciences. The fire also destroyed examination scripts, books and very crucial materials. Consequently, the vice-chancellor said “the Senate will meet tomorrow (Monday) to take a decision about the unmarked examination scripts that were burnt.” On the cause of the inferno, Maimako said investigation had commenced, adding that “nothing has been confirmed yet. We are still investigating.” The vice chancellor said the school was already working with federal authorities toward establishing a main fire station since the mini fire station in t...

NDLEA arrests 252 suspects, seizes 3,073 kg Indian hemp

NDLEA operatives The NDLEA in Niger on Monday said that it had arrested 252 suspects and seized 3,073.9 kilogramme of Indian hemp(cannabis sativa) in the state. The NDLEA Commander in the state, Mr Joseph Iweajunwa, who disclosed this in Minna, said that the operations were carried out between January and September. “Our operations in Niger State from January to September 2016 led to the arrest of 252 suspects and seizure of 3,073.997 kilogramme of cannabis sativa,’’ he said. Iweajunwa said that within the period, the agency also seized 1, 530 litres of liquid drugs, especially cough syrup with codeine. He said the NDLEA also counselled and rehabilitated 90 drug addicts in the state within the period under review. The agency, he added, secured convictions of only nine of the suspects because the judge at the Federal High Court, Minna, went on leave. “ Now that the judge has resumed more suspects will be tried,’’ he said. He advised motorists, especially commercial vehicle dri...