Germany and Nigeria forge energy partnership
- NigeriaPoliticsWorld
- December 13, 2024
Save as PDFAccra, Ghana – German President Frank-Walter Steinmeier met with his Nigerian counterpart, Bola Ahmed Tinubu, in Abuja to strengthen energy cooperation between the two nations. The discussions form part of Steinmeier’s two-day visit to Nigeria.
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Since assuming office in May 2023, Tinubu has implemented sweeping structural reforms, including the removal of fuel subsidies and the liberalisation of the naira, Nigeria’s currency, to attract foreign investment. However, these measures have triggered a steep devaluation of the naira and a severe economic downturn, with inflation surpassing 33% by October.
In November 2023, the Union Bank of Nigeria and German investment firm DWS signed a $500 million renewable energy deal. Meanwhile, Nigerian company Riverside LNG committed to delivering 850,000 tonnes of natural gas to Germany’s Johannes Schuetze Energy Import AG.
During his visit, Steinmeier is also expected to meet Omar Alieu Touray, President of the ECOWAS Commission, headquartered in Abuja. Before departing, he will travel to Lagos, Nigeria’s economic hub, for meetings with business leaders, Nobel Laureate Wole Soyinka, and Nike Okundaye, founder of one of West Africa’s largest art galleries.
Nigeria has recently made headlines after UK Conservative Party leader Kemi Badenoch, who has Nigerian roots, faced criticism from Nigeria’s Vice President Kashim Shettima. Shettima accused Badenoch of disparaging her country of origin during a speech on migration in Abuja.
Responding to Shettima’s remarks, Badenoch maintained her stance, stating she is “not Nigeria’s public relations officer.” Shettima, however, lauded her achievements, remarking, “She has the right to her opinions and even to remove ‘Kemi’ from her name, but the greatest black nation on Earth remains Nigeria.”
Shettima’s comments were met with applause, though he did not clarify which statements he was addressing. Born Olukemi Adegoke in Wimbledon in 1980, Badenoch spent much of her childhood in Lagos before moving to the United States and later returning to the UK at 16 to complete her education amid Nigeria’s worsening political and economic conditions.
