Germany to support Nigeria's power sector development

Feb 15, 2009 01:00 AM

In anticipation of the energy conference billed for November, in Lagos, with the theme "Energy Partnership: Challenges and Opportunities", Germany has promised to support the country's power sector, in exchange of its natural gas. The leader of the German Industry and Commerce for West Africa delegation, Mr D. Kloss, said it was a follow-up on President Kohler's visit to Nigeria.
"In November, last year, President Kohler had led a business delegation to Nigeria, which signed an energy partnership with Nigeria. We are here today, because the bottleneck in infrastructure is energy supply, which is a hindrance to a more general investment. We consider this investment partnership to be strategic, because if the new German companies coming in succeed, they will serve as a point of reference for other companies."

"Germany is seeking to diversify its energy supply and there is a huge potential here for the gas sector to develop," he said.
"Already, four major German gas companies have entered the energy partnership to implement gas projects in Nigeria and the long term strategic goal of the partnership is to develop the country's power sector and export its gas to Germany."

On the proposed energy summit, the Nigerian German Business Association (NGBA) and Nigerian German Business Council (NGBC) are working closely to make the conference a huge success by mobilising Nigerian company executives and government officials to attend. A lot of German top company executives are also expected.
According to the NGBA Chief Executive Officer, Dr Jaiye Doherty, "With Nigeria, Germany's second largest trading partner in Africa, we want to put Nigeria on the map of business destinations for German companies. The objective is to exchange ideas with the Nigerian private sector and sign business contracts."

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