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| Nigerian President Bola Ahmed Tinubu (left) and German Chancellor Olaf Scholz actively promote bilateral cooperation in the energy sector. (Source: Reuters) |
On November 21, Nigerian President Bola Ahmed Tinubu announced that his country and Germany agreed on a deal for Africa's largest oil producer to supply more gas to the Western European country, while Berlin invested $500 million in a renewable energy project in Nigeria.
A memorandum of understanding (MoU) on a gas deal was signed between Nigeria's Riverside LNG project - operating in the Niger Delta - and German energy importer Johannes Schuetze.
David Ige, CEO of GasInvest, one of the Nigerian partners in the MoU, said the project will supply energy from Nigeria to Germany at a rate of 850,000 tons per year, increasing to 1.2 million tons per year. Nigeria is expected to deliver the first gas in 2026.
The two countries also signed another MoU, pledging $500 million for a renewable energy project in Nigeria. Berlin is also in talks with Siemens about supporting the supply of electricity to Abuja.
In addition, President Tinubu also expressed interest in Siemens helping to modernize and expand Nigeria's railway network.
Mr. Tinubu is in Berlin to attend the G20 Summit on Africa Engagement.
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