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Nigeria is vital to Africa’s economic growth – German envoy

Nigeria is vital to Africa’s economic growth – German envoy

Nigeria’s economy is very vital to economic growth in Africa and there is a need for the Federal Government to expedite its economic diversification plans, the Consul-General of Germany in Lagos, Mr. Ingo Herbert, has said.

He disclosed that German companies, which left Nigeria last year due to difficult economic situation, were already planning to return.

This, he said, would help to enhance balance of trade between Nigeria and Germany, noting that bilateral business relation between the two countries was already improving.

Ingo spoke in Lagos during a courtesy visit to the Bishop of Lagos, Church of Nigeria, Anglican Communion, Most Revd. Adebola Ademowo.

He said, “Let me say that despite all the difficult times the Nigerian economy is facing, there is an interest from German businesses to assess the situation and in the medium to longterm come back. They see Nigeria as a very important market on the African continent.”

The envoy added, “Nigeria is, for Germany, number two in sub-Saharan Africa when it comes to economic relations after South Africa. The trade balance is because of import of gas, which is normally in favour of Nigeria.”

Link: http://punchng.com/nigeria-is-vital-to-africas-economic-growth-german-envoy/

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