The Lagos State Government has committed to welcoming German investors and deepening economic cooperation with Germany across trade, technology, education and industrial development. Governor Babajide Sanwo-Olu, represented by Secretary to the State Government Bimbola Salu-Hundeyin, made the pledge on Tuesday at a reception marking the 36th anniversary of German reunification at the German Residence in Victoria Island. Sanwo-Olu said Lagos was committed to partnerships that would attract investment, promote innovation and contribute to the state's economic growth.
The governor highlighted the complementary strengths of both nations, noting that Germany's industrial and technological capabilities combined with Nigeria's enterprise and economic potential offered opportunities for deeper cooperation. He described the bilateral relationship as longstanding, sustained by diplomatic cooperation, economic engagement and people-to-people connections. Sanwo-Olu acknowledged the contributions of German enterprises and institutions already operating in Lagos, particularly the Goethe-Institut, which he said had strengthened commercial, educational and cultural connections between the two countries.
Germany has signalled its readiness to expand engagement with Nigeria. The German Consul-General in Lagos, Daniel Krull, disclosed that Germany had committed more than €700m to development partnerships with Nigeria through grants and loans, and intended to increase its development support in the coming years. Krull said Germany favoured a rules-based international trade system anchored on transparency, fairness and equal treatment. He also indicated Germany's intention to increase the number of visa applications it processes and highlighted opportunities for Nigerian students to study at German universities at fair and affordable fees.
For savers and investors in Lagos, closer German-Nigerian business ties could generate opportunities in sectors where German expertise aligns with local enterprise, though any concrete outcomes remain dependent on how quickly partnerships materialise into investment flows.