LASG woos German investors, seeks stronger economic ties

File photo: Governor Babajide Sanwo-Olu of Lagos State

The Lagos State Government has pledged continued support for German investors and institutions seeking opportunities in the state, as it moves to deepen economic cooperation with Germany in trade, technology, education and industrial development.

Governor Babajide Sanwo-Olu, represented by the Secretary to the State Government, Bimbola Salu-Hundeyin, gave the assurance on Tuesday at a reception marking the 36th anniversary of German reunification, held at the German Residence, Victoria Island, Lagos.

He said Lagos was committed to partnerships that would attract investment, stimulate innovation and strengthen the state’s economy.

He said, “The Lagos State Government will continue to welcome and support partnerships capable of stimulating investment, promoting innovation and contributing to the state’s economic growth.”

Sanwo-Olu said Germany’s industrial and technological strengths, combined with Nigeria’s enterprise and economic potential, offered opportunities for deeper cooperation.

He described the relationship between Nigeria and Germany as a longstanding partnership sustained by diplomatic cooperation, economic engagement and people-to-people relationships.

“The 66-year relationship between the two countries has continued to evolve, with Germany making significant contributions to Nigeria’s development through its businesses, educational institutions and cultural organisations,” he said.

The governor acknowledged the contributions of German enterprises and institutions operating in Lagos, particularly the Goethe-Institut, which he said had strengthened commercial, educational and cultural connections between the people of both countries.

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He expressed confidence that closer engagement between Lagos and German businesses and institutions would deliver greater benefits to both sides.

The German Consul-General in Lagos, Daniel Krull, said Germany was ready to expand opportunities for trade, investment, educational exchange and stronger people-to-people connections with Nigeria and Lagos.

He disclosed that Germany had committed more than €700m to development partnerships with Nigeria through grants and loans, adding that his country intended to increase its development support in the coming years.

On international trade, Krull said Germany favoured a rules-based system anchored on transparency, fairness and equal treatment to promote confidence and sustainable business relationships.

He also indicated Germany’s intention to increase the number of visa applications it processes, while highlighting opportunities for Nigerian students to study at German universities at fair and affordable fees.

Sanwo-Olu congratulated the German Consul-General and the German community on the anniversary, expressing optimism that relations between Nigeria and Germany would grow stronger.