Latest news with #Tuggar
Time of India
23-05-2025
- Business
- Time of India
Germany, Nigeria to deepen cooperation in economy, migration
Germany, Nigeria to deepen cooperation in economy, migration (AP) German Foreign Minister Johann Wadephul described Nigeria as a key partner of Berlin in Africa. "We just want to deepen our cooperation," he said after talks with his Nigerian counterpart, Yusuf Tuggar, on Thursday. "For both the European Union and Germany, the African continent is the continent of the future," Wadephul added. There are "an incredible number of opportunities" to expand the economic cooperation with African countries, said the German minister, citing the example of rare earths, abundant in many parts of Africa. Wadephul said that he wanted to encourage the German private sector to become more involved in Nigeria and used car manufacturer Volkswagen as a positive example of this. Wadephul also highlighted the issue migrants and refugees crossing the Mediterranean Sea and heading to Europe, specifically Germany. "We have with Nigeria an ideal partner to discuss how we can tackle this problem. We agreed to cooperate very closely," he added. 'Nigeria is blessed with critical minerals' Meanwhile, Tuggar emphasized that Nigeria is already Germany's second largest trading partner in sub-Saharan Africa. The Nigerian minister held out the prospect of intensifying trade relations, particularly in critical raw materials. "Nigeria is blessed with a lot of critical minerals," he said. Tuggar also announced closer cooperation in energy sector, including on renewable energies, and labor migration. With over 220 million inhabitants, Nigeria is the most populous country in Africa. "Projections show that by 2050 we'll have 400 million people," Tuggar said. "What we are looking to do is not to export people but to export talent," he explained. "That's why we are looking to work with countries like Germany on structured solutions to job creation and to tackling the issues of irregular migration." German-Nigerian relations According to the German Ministry of Foreign Affairs, Berlin views Nigeria as a key player in promoting stability and democracy in the broader region, as well as a country with significant economic potential. In December, German President Steinmeier visited Nigeria with a business delegation. The German-Nigerian Binational Commission, founded in 2011, has working groups in business, energy, politics, culture, and migration. The commission last met in 2021. New impetus was injected into cultural relations by the return of the first Benin Bronzes to Nigeria by then Foreign Minister Annalena Baerbock in December 2022. To combat terrorist threats, the German government is training and equipping Nigerian security forces and contributing to transnational stabilization projects. Energy partnership Nigeria is Germany's second-largest trading partner in sub-Saharan Africa. The German Ministry of Foreign Affairs has identified energy cooperation as a key focus area for bilateral economic relations. The German-Nigerian Energy Partnership, established in 2008, expanded in 2021 in line with the German government's National Hydrogen Strategy with the opening of a hydrogen office in Abuja. Priorities of development cooperation with Nigeria include sustainable economic development, vocational training, employment, rural development, expanding renewables, and healthcare.
DW
22-05-2025
- Business
- DW
Germany, Nigeria to deepen cooperation in economy, migration – DW – 05/22/2025
The foreign ministers of Germany and Nigeria pledged to strengthen their countries' partnership in areas such as the economy, energy, and migration. German Foreign Minister Johann Wadephul described Nigeria as a key partner of Berlin in Africa. "We just want to deepen our cooperation," he said after talks with his Nigerian counterpart, Yusuf Tuggar, on Thursday. "For both the European Union and Germany, the African continent is the continent of the future," Wadephul added. There are "an incredible number of opportunities" to expand the economic cooperation with African countries, said the German minister, citing the example of rare earths, abundant in many parts of Africa. Wadephul said that he wanted to encourage the German private sector to become more involved in Nigeria and used car manufacturer Volkswagen as a positive example of this. Wadephul also highlighted the issue migrants and refugees crossing the Mediterranean Sea and heading to Europe, specifically Germany. "We have with Nigeria an ideal partner to discuss how we can tackle this problem. We agreed to cooperate very closely," he added. 'Nigeria is blessed with critical minerals' Meanwhile, Tuggar emphasized that Nigeria is already Germany's second largest trading partner in sub-Saharan Africa. The Nigerian minister held out the prospect of intensifying trade relations, particularly in critical raw materials. "Nigeria is blessed with a lot of critical minerals," he said. Tuggar also announced closer cooperation in energy sector, including on renewable energies, and labor migration. With over 220 million inhabitants, Nigeria is the most populous country in Africa. "Projections show that by 2050 we'll have 400 million people," Tuggar said. "What we are looking to do is not to export people but to export talent," he explained. "That's why we are looking to work with countries like Germany on structured solutions to job creation and to tackling the issues of irregular migration." German-Nigerian relations According to the German Ministry of Foreign Affairs, Berlin views Nigeria as a key player in promoting stability and democracy in the broader region, as well as a country with significant economic potential. In December, German President Steinmeier visited Nigeria with a business delegation. The German-Nigerian Binational Commission, founded in 2011, has working groups in business, energy, politics, culture, and migration. The commission last met in 2021. German and Nigerian classical musicians' mutual influence To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video New impetus was injected into cultural relations by the return of the first Benin Bronzes to Nigeria by then Foreign Minister Annalena Baerbock in December 2022. To combat terrorist threats, the German government is training and equipping Nigerian security forces and contributing to transnational stabilization projects. Energy partnership Nigeria is Germany's second-largest trading partner in sub-Saharan Africa. The German Ministry of Foreign Affairs has identified energy cooperation as a key focus area for bilateral economic relations. The German-Nigerian Energy Partnership, established in 2008, expanded in 2021 in line with the German government's National Hydrogen Strategy with the opening of a hydrogen office in Abuja. Priorities of development cooperation with Nigeria include sustainable economic development, vocational training, employment, rural development, expanding renewables, and healthcare. Edited by: Kieran Burke
TimesLIVE
15-05-2025
- Business
- TimesLIVE
Nigeria talks with Petrobras on deep-water acreage, says minister
Nigeria is discussing exploration of its deep-water oil acreage with Petrobras, years after the Brazilian oil giant exited the west African nation, Nigeria's foreign minister Yusuf Tuggar said. "Petrobras is no longer active in Nigeria but they are very keen on coming back to Nigeria. They said they want frontier acreage in deep waters," Tuggar was quoted in a statement from the vice-president's office as saying. Brazil is due to host the Brics summit and COP30 this year after hosting the G20 meeting last year. Nigeria plans to promote investment at these summits as the African nation seeks to deepen ties with Brazil in areas such as energy, health, culture and agriculture. The Brazilian state energy firm said in February it was in talks with companies including existing partners ExxonMobil, Shell and TotalEnergies to buy a share of their African assets. Petrobras began operations in Nigeria in 1998 in the deep waters off the coast of the Niger Delta, but sold off its stakes more than 10 years ago to raise cash for domestic projects.
Reuters
14-05-2025
- Business
- Reuters
Nigeria talks with Petrobras on deep water acreage, minister says
LAGOS, May 14 (Reuters) - Nigeria is discussing exploration of its deep water oil acreage with Petrobras, years after the Brazilian oil giant exited the west African nation, Nigeria's Foreign Minister Yusuf Tuggar said. "Petrobras is no longer active in Nigeria, but they are very keen on coming back to Nigeria. They said they want frontier acreage in deep waters," Tuggar was quoted in a statement from the vice president's office as saying. Brazil is due to host the BRIC summit, G20 and COP30 this year. Nigeria plans to promote investment at these summits as the African nation seeks to deepen ties with Brazil in areas such as energy, health, culture, and agriculture. The Brazilian state energy firm said in February it was in talks with companies including existing partners ExxonMobil (XOM.N), opens new tab, Shell (SHEL.L), opens new tab, and TotalEnergies ( opens new tab, to buy a share of their African assets. Petrobras began operations in Nigeria in 1998 in the deep waters off the coast of the Niger Delta. But it sold off its stakes more than 10 years ago to raise cash for domestic projects.
Zawya
30-04-2025
- Business
- Zawya
Nigeria: Tuggar targets expanded economic partnerships with Brazil
Nigeria's Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has addressed a gathering of high-net-worth investors and business leaders at a Brazil–Nigeria Business Roundtable held in Rio de Janeiro. The event was organized under the auspices of ApexBrasil, Brazil's leading investment promotion agency, in collaboration with the Ministry of Foreign Affairs of Brazil and the Brazilian Development Bank (BNDES). The roundtable featured key figures including José Luis Pinho Leite Gordon, Director of Productive Development, Innovation, and Foreign Trade at BNDES; Raphael Cittadino, Executive Chief of Staff at ApexBrasil; and Marcelo Salum, Head of Investment Promotion at Brazil's Ministry of Foreign Affairs (MRE). Notable Brazilian companies like Petrobras and Embraer were also in attendance. Ambassador Tuggar during the event called for the revitalization of Nigeria-Brazil trade relations, rooted in shared historical and cultural ties. He emphasized that renewed economic engagement must leverage both countries' comparative advantages, with private enterprise innovation and robust governmental support as critical drivers. Highlighting Nigeria's reforms and the government's commitment to de-risking investments particularly through insurance mechanisms he reaffirmed Nigeria's readiness for strategic, long-term partnerships. 'Our countries share a legacy of cooperation. Now is the time to translate that legacy into tangible economic progress,' Tuggar noted. 'Nigeria presents vast opportunities across energy, agriculture, aviation, and digital technology, and stands open for business.' Marcelo Salum, speaking on behalf of Brazil's Ministry of Foreign Affairs, echoed this sentiment. He noted that Brazil values the role of Nigeria's growing tech sector including its unicorn companies and sees opportunities for mutual benefit through initiatives such as the Green Imperative Project and expanded sugar and ethanol trade. Also participating were Ambassador Basil Okolo, Chargé d'Affaires at the Nigerian Embassy in Brazil, and Ms. Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC), who joined virtually. The event marks a significant step toward deepening Nigeria–Brazil economic ties, with both nations reaffirming their commitment to building a resilient, innovative, and inclusive trade and investment partnership.
