As Buhari explores opportunities in Germany
In furtherance of President Muhammadu Buhari’s commitment towards expanding the frontiers of Nigeria’s diplomacy, he has once more embarked on a three day official trip to Germany. The three days trip will afford him the opportunity to interact with the German Chancellor Angela Markel and President Joachim Gauck.
It is expected that issues that border on security, the humanitarian situation of internally displaced persons, rehabilitation of the Northeast, trade and economic relations between both countries.
In this era of economic recession, the necessity for global diplomatic engagements will play a pivotal role in attracting foreign direct investments and winning international goodwill for Nigeria.
It is pertinent to recognize that President Buhari’s sincerity of purpose and zeal to promote transparency in governance have endeared him and by extension the entire country to the international community.
Since no country is an island and interdependence among countries has always been the norm, it is remarkable that Nigeria continues to assert herself in the global arena. Of course with the several policy initiatives of the Buhari administration, Nigeria is well positioned to explore the world.
On the issue of war against Boko Haram and rehabilitation of internally displaced persons, Nigeria stands to gain a lot from Germany. In trying to find a lasting solution to the problems in the Northeast Nigeria has to explore all avenues and the trip to Germany will definitely bode well for the country.
Germany is also home for many Diaspora Nigerians and the visit will offer an opportunity for the President to interface with them. The other side of it is that the Nigerian community in Germany will also have the opportunity to exchange views about Nigeria with Mr President.
While President Buhari will use the trip to solicit for Germany’s help in rebuilding the war-ravaged Northeast and combating Boko Haram, he will equally showcase the investment potentials of the country to the German business community.
With the several policy initiatives of this administration, it is in his place as the number one citizen to lead in trumpeting the many benefits awaiting foreign investments in Nigeria.
In various sectors of the economy such as solid minerals and mining, agriculture, oil and gas, science and technology, the federal government is providing incentives for would-be investors and the message ought to be pronounced loud and to the target audience.
Since his assumption of office, President Buhari has adopted a multilateral approach in fostering Nigeria’s relations with the rest of the world, and this has endeared him to world leaders such as President Barrack Obama of the United States.
His foresight, vision and patriotism have once more positioned Nigeria as a global player from the African continent that cannot be ignored. In effect, it can be said that President Buhari has restored Nigeria’s preeminent position as the continent’s leader.
On trade and economics, it needs to be noted that Germany has remained a major source of imports for various goods and services into Nigeria. The trade volume between both countries stood at 5.4 Billion Euros in 2014 but decreased to 2.9 Billion Euros in 2015.
Nigeria has remained Germany’s second most important economic partner in Africa and President Buhari’s visit has the potential to strengthen both countries’ relations, and promote trade and economic cooperation. Both countries open market policy also helps to facilitate trade among their citizens and this is to the mutual advantage of both countries.
Germany as a technologically advanced country is in a position to assist in the area of maritime security and safeguarding of our waterways.
The diversification programme of the Buhari administration offers German companies a leeway to penetrate into the Nigerian market.
At this critical period in our history, we must concentrate on ensuring that we continue to widen the frontiers of our business and diplomatic engagements. Already the Buhari administration has created the enabling environment for businesses, both local and foreign to thrive in Nigeria, and it is hoped that German investors will take full advantage of the opportunities.
Similarly, the major drawbacks to foreign direct investments like corruption and insecurity are being addressed by the administration. Definitely, the cleansing going on will restore the confidence of foreign investors in Nigeria and pave way for businesses to thrive.
Boosting trade and investments between Nigeria and Germany will help provide employment opportunities, improve security, education and infrastructural development. The renewed diplomatic move by President Buhari has the potential to jumpstart Nigeria’s economy, and increase the trade volume between both countries.
Germany as a knowledge-based economy is also in a position to transfer technology to Nigeria by sharing knowledge in the various sectors.
Again since both are the largest economies in their respective continents of Europe and Africa, they are in a position to exchange competencies and skills.
It must be noted that major German companies have been operating in Nigeria for decades, and they have been adding real value to Nigeria’s growth and development. For example Julius Berger Plc and ABB are some of the German companies that have continued to lend support to Nigeria’s development.