FG seals €70m economic cooperation agreement with Germany

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The Federal Government on Friday sealed a €70m economic cooperation agreement with the government of Germany.

The pact would enable the government of Germany to provide assistance to the country in key areas of the economy.

The Minister of State for Finance, Budget and National Planning, Clem Agba signed for the Federal Government while the Head of German Delegation to Nigeria, Christoph Rauh signed for his government.

Speaking at the event, the minister described Germany as a reliable partner in terms of bilateral economic cooperation.

He said the areas of interventions by the government of Germany is in line with the inclusive growth agenda of the Federal Government as contained in the Economic Recovery and Growth Plan.

He gave some of the areas as infrastructure, finance, governance, renewable energy, vocational training, job creation, microfinance, ease of doing business, polio eradication and safe school initiative among others.

Agba said, “The areas of interventions by the government of Germany are in line with economic sustainability and inclusive growth.

“We must, therefore, make necessary efforts to ensure that the opportunities offered by these interventions and other similar initiatives are not misplaced.”

Earlier, Rauh said the intervention in Nigeria was based on his country’s strategic plan for Africa.

He commended the Federal Government on the reforms being implemented in the area of ease of doing business, corruption and money laundering.

He also called on the government to increase the level of support to displaced people in the North East region.