Ongoing efforts to attract Foreign Direct Investments (FDIs) may have begun yielding result, as some firms from Germany have indicated interest to invest in the vast mineral resources in the country.

Deputy Head of Mission at the German Embassy in Nigeria, Ambassador Johannes Lehne, who dropped the hint, said German firms, which were actively exploring opportunities, have conducted satellite mapping of Nigeria’s resources, and were engaging with state governments to secure investment opportunities.

Speaking in the latest episode of Nextier’s ‘Crossing Perspectives’ Podcast with Dr Ndu Nwokolo, Managing Partner at Nextier, the envoy, however, cautioned that security and energy infrastructure must improve to attract sustained foreign investment.

The talks between the government of Germany and public policy think-tank – Nextier explored the European nation’s evolving development cooperation with Nigeria and West Africa, focusing on economic growth, security, climate resilience, and investment opportunities.

Lehne emphasised Germany’s long-standing partnership with Nigeria, highlighting the country’s ongoing economic improvements, and noting that “the German government sees that the reforms President Tinubu has implemented over the last two years are taking hold. Inflation is decreasing, foreign exchange reserves are stabilising, and oil production is picking up.”