Germany has announced a €4bn investment in green energy projects across Africa by 2030, with Nigeria poised to be a major beneficiary.
In a statement, Dr. Felix Ale from the National Space Research and Development Agency praised the potential of this investment following discussions during the German Federal Foreign Office H2 Diplo Study Tour.
Nigeria’s Minister of Innovation, Science, and Technology, Chief Uche Nnaji, said the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda to revitalize Nigeria’s economy through economic diversification, job creation, and sustainable development.
“This €4 billion commitment from Germany is a game-changer for our energy sector and significantly aligns with our national objectives,” Nnaji said.
The collaboration stems from earlier talks between President Tinubu and Chancellor Olaf Scholz, which led to a €500 million renewable energy and gas agreement.
The minister said that key German stakeholders are helping develop green hydrogen in Nigeria. This clean and renewable resource will help “decarbonize industries and enhance energy security in Nigeria.”
The minister noted that Green hydrogen, often likened to the oil and gas of the future, presents vast economic opportunities.
“Germany’s intention to import green hydrogen from Nigeria as part of their aim for carbon neutrality by 2045 places us at the forefront of the green hydrogen market,” he stated.
Nnaji believes this partnership supports Nigeria’s innovation and industrial growth goals and cements its leadership in Africa’s green energy sphere.
“By leveraging advanced technologies and fostering a business-friendly environment, we aim to draw significant foreign investments, boost job creation, and expand our energy export capabilities,” he said, adding that Nigeria is an essential partner in the energy transition of both countries.
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