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Germany's Wadephul encourages investment in Nigeria despite insecurity
Germany's Wadephul encourages investment in Nigeria despite insecurity
DPAWed, July 22, 2026 at 3:03 PM UTC2 min readAdd Yahoo as a preferred source to see more of our stories on Google.- German Foreign Minister Wadephul encourages German companies to invest in Nigeria despite security challenges, citing economic opportunities and the importance of the partnership between the two countries.
- Nigeria's President Tinubu faces a severe security crisis, economic challenges, and widespread poverty, with the country heavily reliant on revenues from crude oil exports.
- Nigeria struggles with multiple security crises, including insurgency, criminal gangs, and extremist groups, leading to thousands of deaths, kidnappings, and internal displacement.
German Foreign Minister Johann Wadephul encouraged German companies to invest in Nigeria on Wednesday despite the security challenges, saying Africa's most populous nation offers major economic opportunities that it would be "grossly negligent" to ignore.
Speaking after talks in Abuja with Nigerian Foreign Minister Bianca Odumegwu-Ojukwu, Wadephul said he was confident cooperation with Nigerian authorities could provide adequate security for investors.
"I explicitly encourage German companies to get involved here," he said.
AdvertisementAdvertisementWadephul said Nigeria's fast-growing economy, young population and natural resources made it an important partner for Germany. More than 100 German companies are already active in the West African country, Germany's second-largest trading partner in sub-Saharan Africa.
The minister also reaffirmed Germany's commitment to supporting security, stabilization, humanitarian aid and development cooperation in Nigeria.
Wadephul had been due to meet Omar Alieu Touray, president of the Economic Community of West African States (ECOWAS), but the meeting was cancelled because of time constraints.
Nigerian President Bola Tinubu, 74, who is seeking re-election in early 2027, faces a severe security crisis as well as a difficult economic situation marked by inflation and widespread poverty.
AdvertisementAdvertisementNigeria is Africa's largest oil producer and relies heavily on revenues from crude oil exports. Despite this, many people struggle with poverty, high inflation and weak infrastructure.
The country's security forces are stretched by multiple crises, including an insurgency by Boko Haram and other Islamist militant groups, criminal gangs and the spread of extremist groups from neighbouring Sahel countries.
According to conflict monitor ACLED, nearly 13,000 people were killed in violence in Nigeria in 2025, including around 5,000 civilians. Thousands of people are kidnapped each year, mostly for ransom, while 3.7 million people are internally displaced, according to the United Nations.