The governments of Germany and Nigeria have reaffirmed their commitment to further collaboration in a significant step to support Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria. This declaration was made at a bilateral meeting with the German Ministry of Economic Development in Abuja by Nigeria’s Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite.
Uzoka-Anite emphasized the significance of the collaboration, voicing assurance in its capacity to foster a more robust and reciprocally advantageous connection between the two countries. She underlined the areas of particular importance for cooperation, such as agriculture, renewable energy, and improved financing availability for MSMEs, emphasizing the crucial role these businesses play in bolstering Nigeria’s industrial sector.
Uzoka-Anite noted the formation of the Presidential Council on Industrial Revitalization, headed by the Minister of Finance and Coordinating Economy, in acknowledgment of the President’s commitment to economic revitalization. Through its 11-point agenda, the council seeks to address several economic sectors, particularly MSMEs, which comprise a sizable portion of Nigeria’s GDP.
In her reply, German Minister Ms. Svenja Schulze recognized Nigeria’s strategic significance as the continent’s most extensive and populous economy. She stressed the benefits that Nigeria and Germany receive from their long-standing alliance, which dates back to 1959. Along with discussing Nigeria’s problems, Schulze emphasized the significance of tackling root causes like job creation, energy security, and food security. He also touched on security difficulties made worse by resource conflicts, climate change, and population expansion.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reaffirmed the government’s dedication to supporting small enterprises. He underlined how important the bilateral meeting was for discussing bilateral support and cooperation for MSMEs, especially in areas like agriculture, energy (especially solar power), and the development of entrepreneurship skills, focusing on women-led enterprises.
