From Segun Ayinde, Abeokuta
Chief Executive Officer of Giessen Chamber of Commerce and Industry of Germany, Dr Mathias Leder has urged the Nigerian government to improve on productivity, labour, capital and innovation to ensure balance of trade between the country and Germany for economic growth.
Leder gave the advice on Tuesday at the 2025 Gateway International Trade Fair organised by Ogun State Chamber of Commerce, Industry, Mines and Agriculture, OGUNCCIMA, held in Abeokuta.
Leder, who lamented the international trade imbalance between Germany and Africa, stated that Africa’s share of Germany’s total trade volume stood at a mere two percent, while Nigeria’s shares of the trade volume is one percent.
He noted that it is time the giant of Africa considers improving on the three factors to create trade balance between the two countries.
He also expressed concern over Germany’s trade with Nigeria compared to Brazil and the Republic of China, saying the reason why China was able to do that in Africa, particularly Nigeria in the last 20 years more than Europe, is because it invested in infrastructure, rail, ports, telecommunications among others.
The CEO of Giessen Chamber of Commerce identified dual vacation training for legal migration as one of the means that the Nigerian government could improve its labour factor and productivity, especially in the area of IT where migrants could earn a job.
“The balance of trade between Germany and Africa compared to Brazil and the Republic of China is uneven. Though Germany does a lot of trading with Brazil and China, but its volume of international trade with Africa is two percent, out of which Nigeria is less than one percent; and my dream is to see that trade grows.
“What can we do to change the situation? International trade has always been a cornerstone of prosperity and development, and there are several reasons why we have it. International trade arises because we don’t have some resources in the importing countries.
“For instance, we don’t have oil and gold in Germany. China’s investment in the last 20 years in Africa is more than that of Europe. They invested in infrastructure, rail, ports, telecommunications and so on. To change the narrative of the trade imbalance that Nigeria has with Germany, you can improve the productivity of labour, capital and innovation,” he said.
Speaking, a former Minister of Information and Culture, Alhaji Lai Mohammed said one of the ways that Nigeria could get out of its economic woes is to engage in local production and refrain from exporting raw materials so that it can have good export markets that meet international standards
Mohammed urged small business owners to participate in cooperative banking like ‘esusu’ to save their businesses in the face of harsh economy, while appreciating the support for Small and Medium Scale Enterprises, SMEs.
On his part, Governor Dapo Abiodun said his administration recognises that Micro, Small and Medium Enterprises, MSMEs, is key to a thriving economy.
Abiodun, who was represented by the Commissioner for Agriculture and Food Security, Mr Bolu Owotomo said Gateway International Trade Fair remains a pivotal platform for fostering business interactions, promoting industrialisation and facilitating trade and investments within and beyond Ogun State.
