NGICE 2024 (FOR THE PRIVATE SE...

NIGERIAN – GERMAN INVESTMENT AND CULTURAL EXPO (NGICE)

For The Private Sector

Nigeria and the Federal Republic of Germany enjoy more than Sixty (60) years of Diplomatic Relations. Nigeria is the most populated and biggest economy in Africa likewise, Germany is the biggest economy and most populated country in continent Europe.

After the end of military rule in 1999, bilateral relations between Nigeria and Germany regained momentum as President Olusegun Obasanjo and successive Presidents sought to develop close relations with Germany.

Following President Goodluck Jonathan’s election in April 2011, the first non-Africa Head of Government to visit Nigeria was German Chancellor, Angela Merkel in July 2011, where both leaders agreed to set up a Bi-National Commission to develop and intensify relations on political consultation, economic relations, power and energy, culture education and migration.

Between the 8th to 12th February, 2016. President Gauck of Germany visited Nigeria and had official talks with Nigeria’s President Muhammadu Buhari. The German President was accompanied by a business delegation.

Furthermore, the first visit President Buhari made outside Africa after inauguration was to Germany, where he attended the G7 summit on 7th – 8th June, 2015.

Importantly, the visit of the former German Chancellor, Angela Merkel to Nigeria’s President Muhammadu Buhari on 31st August, 2018 provided the platform for what is now known as the Presidential Power Initiative, a strategic and systematic approach to solving Nigeria’s perennial problems of unreliable and inadequate electricity. On the Chancellor Merkel’s entourage was Joe Kaeser, the then President/CEO, Siemens AG of Germany, a world leading Energy Technology company. At the business roundtable inside the Presidential Villa, Joe Kaeser gave a brief insight into Siemens deep technical experience in helping Nigeria solve the power sector challenges. The Presidential Power Initiative Implementation Agreement between Nigeria and Siemens AG with the support of the German Government was thereafter signed.

Generally, foreign investments and bilateral relations play significant role in any country’s economic growth and development. That informs the foreign trips embarked by President Bola Ahmed Tinubu before and after inauguration as the President of Nigeria, demonstrating his determination to attract investments and continuously position the country as the leader in the African Continent.

On the trade side and according to the United Nations COMTRADA database on international trade, in 2019, Germany exported US $ 1.2 Billion worth of goods to Nigeria and Nigeria’s exports to Germany was US $ 821.1 Million in 2011.

Interestingly, the return of the seized Benin Bronzes to Nigeria by German Foreign Minister, Annalena Baerbock in December, 2022 gave new motivation to cultural relations. The two countries are also cooperating on stabilization and security as well as energy transition and climate action.

For Germany, Nigeria is an important economic partner in Africa with great economic potentials and a prominent role to play in promoting democracy and stability in the continent.

The need to further boost the existing relationship between both countries cannot be over emphasized, this explains why Salute Nigeria Initiative a non-Governmental organization (NGO) promoting peaceful co-existence and socio-economic upliftment of Nigeria in Collaboration with the Presidency (office of the Secretary to the Government of the Federation). The Federal Ministry of Industry, Trade & Investment, Federal Ministry of Arts, Culture & Creative Economy with the support of the Ministry of Foreign Affairs and other partners have come together to host the 1st Nigerian-German Investment and Cultural Expo (NGICE) scheduled for 25th to 28th June, 2024 in Berlin, Germany with the Theme – “Unlocking Nigeria’s Investment Potentials for Industrial Revolution” Sub-theme – “Cultural Exports: key opportunities for Foreign Direct Investments”.