Berlin (Germany), Nov. 21, 2023 – Nigeria has signed a Memorandum of Understanding (MoU) for $500 million worth of gas from Nigeria to Germany and another for $500 million worth of renewable energy projects in Nigeria.
Dr Doris Uzoka-Anite, the Minister for Industry, Trade and Investment on disclosed the deal in a statement on her X, formerly Twitter, handle on Tuesday, Nov. 21.
The statement reads: “The burgeoning economic partnership between the Federal Republic of Nigeria and the Federal Republic of Germany witnessed further expansion and strengthening as two important agreements were signed between Nigerian and German businesses on Tuesday.
The President witnessed the signing of two Memoranda of Understanding (MoU): one on the supply of gas from Nigeria to Germany and another for $500 million woth of renewable energy projects in Nigeria.
“The signing of MoUs was between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership, while the other signed pact brought together Union Bank of Nigeria and DWS Group on cooperation in renewable energy.
President Tinubu said: “The arbitrage regime is gone forever. Now, you can bring your money in and out as you wish. If you encounter any problems, rest assured that I have built one of the most reliable teams Nigeria has seen to address them.
“I appeal to you to forget the past and focus on building a relationship that removes obstacles, fostering progress and prosperity in Nigerian-German relations.
“You can rely on us; we can rely on you; both of us can chorus Hallelujah at the same time,” the President concluded. (GBN)
