The German Delegate of Industry and Commerce in Nigeria, Dr Marc Lucassen, has reaffirmed Germany’s optimism and commitment to do business in Nigeria in spite all odds.
Speaking at the 4th Australian-German-Swiss Business Outlook (AGSBO) for Nigeria 2019, put together by Nigerian-German Business Association (NGBA) in Lagos, Lucassen said despite myriads of systemic problems militating against Nigerian economy, the bilateral trade between Nigeria and Germany would still be strengthened for mutual benefits.
The German delegate maintained that since Germany and Nigeria markets are the largest in Europe and Africa respectively, both countries should strengthen the weaknesses of the other and take advantage of their strengths.
He said “Nigerian economy is crying for solutions and that’s why we are here but the federal government of Nigeria must address its systemic problems, we are ready to partner with Nigeria to enhance skilled labor, and other salient needs.
But if the insecurity problems, dilapidated roads, poor economic policies and others persist, Nigeria should be assured of capital flight as a result of divestment.”
On his part, the Consular General of Switzerland in Lagos, Yves Nicolet, said the number of Switzerland companies operating in Nigeria increased from 45 to 54 in one year, which is a sign of recovery of Nigerian economy. He however said much is still expected from Nigeria especially Lagos state in making the environment business friendly.
“We already have 90 per cent of business presence in Nigeria which shows that we are reasonably auspicious about the potential of the economic development and investment for the next twelve months, hence Nigerian government must prove itself worthy of business partnership by putting things in order.” he stressed.
Equally, the Commercial Attache of the Australian embassy, Hannes Scheiner, said Australian exports to Nigeria ticks around 80b Euro per year adding Australian Lace among other products has been dominated by Australia-Nigeria markets.
“We continue to see potential for economic exchange between Australia and Nigeria specifically as it relates to high quality, specialized machineries for manufacturing industry; renewable energy solutions and environmental consulting, construction machinery and materials, supplies and general infrastructure improvements, but we also have an increased interest in the innovation and tech space.
“Our interest in strengthening existing economic ties and initiating new business relates to Nigeria, Nigeria indisputably continues to offer an enormous potential for Australia companies, but the government must tackle its challenges that have been repelling investors head-on”, he implored.