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Nigeria-Germany Signs $500m Renewable Energy Pact And Gas Export Agreement


November 22, 2023

The Nigerian government and its German counterpart signed two Memoranda of Understanding (MoU), bordering on the supply of gas from Nigeria to Germany and another for $500 million worth of renewable energy projects in Nigeria.

Speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, President Bola Tinubu, who witnessed the signing, called for more investors in various sectors of the Nigerian economy, assuring German businesses that with Nigeria’s stable political landscape, foreign investments into the country are secure.

Our correspondent, Raliat Adenekan, reports that the signing of MoUs was between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership, while the other signed pact brought together Union Bank of Nigeria and DWS Group on cooperation in renewable energy.