German President Frank-Walter Steinmeier yesterday explored Nigeria’s thriving start-up ecosystem at the conclusion of his two-day visit to the West African nation.

In Lagos, Nigeria’s commercial capital, five innovative start-ups showcased their projects to Steinmeier. The presentations included a health platform centred on an electronic insurance card and a financing platform designed to provide entrepreneurs with capital.

Africa’s most populous nation, where nearly half the population is under 18, has emerged as a hub for the continent’s start-up ecosystem.

The Nigeria Startup Act, which came into effect in October 2022, has been pivotal in fostering the growth of tech and IT enterprises.

During a meeting with Nigerian entrepreneurs, Steinmeier emphasised the need for stronger bilateral ties.

“Germany remains a leader in modern technology, while Nigeria is rich in resources and driven by a dynamic young generation,” he said.

“We are ideal partners. Let’s unlock our potential together.”

Before departing for South Africa, Steinmeier, a former German foreign minister, met Nigerian writer and Nobel laureate Wole Soyinka.

The German president’s four-day tour of Africa includes stops in South Africa and Lesotho.

It is worth noting that Germany’s presidency is primarily a ceremonial position.