German Firms in Nigeria Generate $1bn Annual Turnover

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The Head, Delegation of German Industry and Commerce in Nigeria (DGIC), Dr. Marc Lucassen has said German companies operating in Nigeria currently generate an annual turnover of $1 billion.

He also disclosed that efforts were being made to ensure that more German investors come into Nigeria to take advantage of the investment opportunities in the country.

Lucassen, said the companies, which provide direct employment to about 10,000 Nigerians and operate in all sectors of the economy, are here to stay.

“The Germany business community is here in Nigeria to slowly grow and we are here to stay. We will not go because of economic crises. We are here for the good times and bad times.

“We are covering all sectors, from finance, infrastructure, energy, automobile, to information technology. So the Germany firms are in all sectors and our target is to scale up this presence and in order to do this, our job as bilateral organisation is to provide the platform of activities for Germany investors to come here, look at the place, get a feel of the environment and start to invest,” he said.

Speaking at a press conference to announce the seventh edition of the German-Nigerian Business Forum (GNBF) scheduled to hold from June 20 to 21, 2018 in Lagos, he said: “theme of the business forum is “Leveraging Partnership for Economic Growth”

“The two-day event would focus on key sectors such as agribusiness and food processing; energy with a special focus on renewable energy and energy efficiency; infrastructure and access to finance; digitisation and start-ups; technical vocational education and training,” he said.

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