Nigeria To Gain From Germany’s €4 Billion Green Energy Investment

Germany is committing €4 billion to green energy projects across Africa by 2030, with Nigeria set to be a key beneficiary. This was confirmed by Dr. Felix Ale, Director of Media and Corporate Communications at the National Space Research and Development Agency, in a statement on Tuesday.

The announcement follows the German Federal Foreign Office H2 Diplo Study Tour, during which Nigeria’s Minister of Innovation, Science, and Technology, Chief Uche Nnaji, emphasized the significance of this collaboration. Nnaji explained that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic diversification, job creation, and sustainable development.

Nnaji also noted that the partnership builds on earlier discussions between President Tinubu and German Chancellor Olaf Scholz, which resulted in a €500 million renewable energy and gas agreement. Key German ministries, including the Federal Ministry of Research and Education and the Federal Ministry for Economic Cooperation and Development, are involved in advancing green hydrogen initiatives that will decarbonize industries and strengthen Nigeria’s energy security.

Germany, which aims for carbon neutrality by 2045, plans to import green hydrogen from Nigeria, a move that positions Nigeria as a leader in Africa’s green energy sector. Nnaji highlighted the potential of green hydrogen as a future economic driver, offering Nigeria opportunities to attract foreign investment, create jobs, and expand its energy exports, particularly to Europe.

The minister concluded that this partnership not only supports Nigeria’s industrial growth but also strengthens its role in the global green hydrogen market.