Market News

Germans seek more investment opportunities in Nigeria - PUNCH

SEPTEMBER 13, 2017

BY  Anna Okon

The Nigerian-German Business Association has stated that German business owners are keen to invest in Nigeria.

The Director-General, NGBA, Mr. Gbenga Adebija, stated this when he paid a courtesy visit to the Punch Nigeria Limited in Ogun State on Tuesday.

He said that to this end, the association was working to create synergy and promote business relationship between Nigerian and German investors.

He, however, noted that the challenge that Nigeria had as an investment destination was the perception that business owners in Europe had about the country, adding that the issues of corruption and insecurity were of great concerns to investors.

Adebija pointed out that the major work of his association was to try and correct the perception as a way of attracting more investors to the country since investment by Germany in Nigeria in the past two years had dropped from about €4bn to as low as €900m.

He stated, “There is a lot of enthusiasm in Germany about doing business in Nigeria, but the business owners are concerned about the general perception and structure of the Nigerian business climate.

“We have been collaborating with stakeholders in the various sectors with a view to reversing the negative image that Nigeria has among foreign investors.

“Also, Germans are encouraged by the fact that Nigeria is making efforts to improve its position on the World Bank Ease of Doing Business ranking.”

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