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Nigeria, Germany Strike Landmark Deal to Boost Energy

Nigeria and Germany have signed two deals in Berlin that include a U.S.$500 million renewable energy pact and a gas export deal, further strengthening economic ties between the two nations.

The agreement involves exporting significant liquefied natural gas (LNG) volumes to Germany, starting at 850,000 tons annually and potentially rising to 1.2 million tons. Simultaneously, Germany has pledged a U.S.$500 million investment in Nigerian renewable energy projects, with a focus on integrating more people into the formal economy.

President Bola Tinubu, who is attending the G20 Compact with Africa conference in Berlin, welcomed the deals, assuring German businesses that with Nigeria's stable political landscape, foreign investments into the country are secure.

InFocus

State House

Nigeria-Germany Partnership expands as President Bola Tinubu witnesses signing of $500M Renewable Energy Pact and Gas Export agreement.

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