Current:Home > StocksTrade tops the agenda as Germany’s Scholz meets Nigerian leader on West Africa trip -Capitatum
Trade tops the agenda as Germany’s Scholz meets Nigerian leader on West Africa trip
Fastexy Exchange View
Date:2025-04-07 13:38:21
ABUJA, Nigeria (AP) — German Chancellor Olaf Scholz met with Nigerian President Bola Tinubu on Sunday as part of a West Africa tour as the European country looks to diversify its trade partners and expand economic partnerships in the energy-rich region.
In his third trip to Africa since he took office in 2021, and his second this year, Scholz pushed for further development of Nigeria’s capacity to meet local needs even as Germany seeks improved trade relations with its second-largest trading partner in sub-Saharan Africa. Germany-Nigeria trade volume is estimated to be about 3 billion euros annually.
Major aspects of the two countries’ cooperation include working with Nigeria to help tackle regional and global issues such as migration, security and rampant coups in West and Central Africa, Scholz told Tinubu during their meeting in the capital of Abuja.
“There are a lot of chances not just from gas and oil ... but for better using the capacities of your country, but also for going into investments for the future, which is about hydrogen,” said Scholz. Observers have described Africa as a potential exporter of hydrogen energy amid calls for energy transition.
As the German leader comes under enormous domestic pressure to address issues around migration to Germany, he spoke of how best to handle migration by “having a co-management which is benefiting the two countries the best.”
Before his meeting with Tinubu, Scholz told Lagos-based Punch newspaper that Germany has a “considerable demand for natural gas” and “concrete amounts” of supplies should be agreed on in negotiations between Nigerian gas producers and German gas traders.
Nigeria has Africa’s largest proven gas reserves — estimated to be 202 trillion cubic feet — and has been keen on working toward helping meet Europe’s needs after Russia sharply reduced natural gas flows following its war with Ukraine. Germany, though, has diversified its gas supplies from Russia since the war.
The Nigerian leader sought Germany’s support in helping to address the country’s security and economic challenges.
“Nigeria is still crawling, but we are determined to change the narrative and bring about a transformative government in the country,” Tinubu said. “We still need very much support in that area. And for us to be able to sustain democracy, rule of law and freedom for our people, we need to fight for democracy.
Scholz will also meet with West Africa’s regional bloc of ECOWAS Commission president, Omar Alieu Touray, and open a German-Nigerian business forum in the economic hub of Lagos. He then heads to Ghana where he will end his trip on Tuesday.
___
Associated Press writer Geir Moulson in Berlin contributed.
veryGood! (877)
Related
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Instagram begins blurring nudity in messages to protect teens and fight sexual extortion
- Uber Eats launching short-form-video feed to help merchants promote new dishes, company says
- Washington gun store sold hundreds of high-capacity ammunition magazines in 90 minutes without ban
- Average rate on 30
- Dylan Rounds' Presumed Skeletal Remains Found 2 Years After His Disappearance
- Experts say Wisconsin woman who at 12 nearly killed girl isn’t ready to leave psychiatric center
- Valerie Bertinelli slams Food Network: 'It's not about cooking or learning any longer'
- Federal hiring is about to get the Trump treatment
- Vietnam sentences real estate tycoon Truong My Lan to death in its largest-ever fraud case
Ranking
- What do we know about the mysterious drones reported flying over New Jersey?
- Ice Spice to Make Acting Debut in Spike Lee Movie
- US military veteran accused of having explicit images of a child apparently joined Russian army
- Krispy Kreme, Kit Kat team up to unveil 3 new doughnut flavors available for a limited time
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- How Tyus Jones became one of the most underrated point guards in the NBA
- Stocks tumble as hot inflation numbers douse hopes of June interest rate cut
- Runaway goat that scaled bridge 'like a four-legged Spider-Man' rescued in Kansas City
Recommendation
Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
UPS driver in Birmingham, Alabama shot dead leaving work in 'targeted' killing, police say
Costco now sells up to $200 million a month in gold and silver
Megan Thee Stallion's Fitness Advice Will Totally Change When You Work Out
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Inflation has caused summer camp costs to soar. Here are tips for parents on how to save
Chad Daybell's desire for sex, money and power led to deaths of wife and Lori Vallow Daybell's children, prosecutor says
Kirsten Dunst says 5-year-old son helped her run lines for 'Civil War': 'No dark dialogue!'