Nigeria's export to Germany hits 2.5 bln USD: ambassador
- Source: Xinhua
- [14:39 September 15 2009]
- Comments
Nigeria's export to Germany hit 1.8 billion euros (2.5 billion U. S. dollars) in 2008, the West European country's ambassador has said.
German Ambassador Joachim Schmillen unveiled the figure over the weekend in the Nigerian capital Abuja, the News Agency of Nigeria reported on Monday.
Schmillen said in 2007 and 2006 the volume was 912 million euros and 1.4 billion euros respectively.
The ambassador said imports from Germany in 2008, 2007 and 2006 were 1.2 billion euros, 1.1 billion euros and 974 million euros respectively.
In 2008, 2007 and 2006, direct investments from Germany to Nigeria were 138 million euros, 58 million euros and 49 million euros respectively, the ambassador was quoted as saying.
Schmillen said under the partnership agreement between both countries, the German government had rendered support to many economic and development projects in Nigeria.
He said one of such projects was the small and medium scale initiatives of local institutions aimed at improving basic development needs of communities.
The ambassador said the initiative known as the"Small Project Fund" and administered by the embassy had a budget of 60,000 euros for the support of micro projects.
"In 2008, the projects included financial support for orphanages, local community clinics equipment for schools as well as support for communities to drill boreholes," said the envoy.
