NIGERIA has signed a €70m financing bilateral agreement with Germany that will involve the provision of funding for a host of socio-economic programme including the generation of renewable energy and the provision of education.
Under the terms of the bilateral deal, Germany will provide funding for a programme that includes sustainable economic development, renewable energy, polio eradication, internally-displaced persons, education, peace and security. At the signing ceremony, Nigeria’s minister of state for budget and national planning, Prince Clem Agba, explained that the areas of intervention by Germany were in line with economic sustainability and inclusive growth contained in the government’s Economic and Recovery Growth Plan.
Prince Agba said that the agreement had provided a platform for a coordinated approach to economic cooperation between the two countries. He commended the German government for its continuous support and commitment to the development of Nigerian since the 1960s.
Christoph Raul, the leader of the German delegation and head of Germany’s ministry of economic cooperation and development, said that his country was pleased with the efforts of the present Nigerian administration at growing the economy. He recalled that the Germany had partnered with Nigeria on polio eradication and expressed the commitment of his country to assist with the realisation of economic policies.