The Chamber of Industry and Commerce in Giessen-Friedberg, Germany, has reaffirmed its commitment to strengthening vocational training, institutional development, and private sector cooperation with Nigeria. This follows a two-decade partnership between the German Chamber of Commerce and key Nigerian institutions, focusing on youth skills development, entrepreneurship, and international business collaboration.
According to Dr. Matthias Leder, CEO of the chamber, the partnership has grown significantly in recent years, deepening mutual understanding and creating new avenues for investment, trade, and skills transfer. The current visit of the German team to Nigeria aims to consolidate gains and explore opportunities for scaling up the partnership. The team is scheduled to meet with various Nigerian ministers, including those of Labour and Employment, Youth Development, Education, Foreign Affairs, Budget and Economic Planning, and Industry, Trade and Investment.
A former Minister of Information, Alhaji Lai Mohammed, will participate as a panelist, building on his previous keynote speech on “The Event Industry as an Emerging Sector in Nigeria.” Dr. Leder noted that Nigerian chambers face a significant task in institutional setting, particularly in offering dual vocational training (DVT) like German chambers. To achieve this, Nigerian companies would need to be willing and qualified to train young students, and exams would need to be organized with comparable quality standards.
Currently, Nigerian companies do not pay for these services voluntarily, perceiving them as public goods. To provide DVT sustainably, Nigerian chambers require institutional enrichment, such as being entrusted to supply services in the area of DVT in exchange for the right to levy a fee from registered companies. This revised chamber system could lead to benefits like reduced unemployment, especially among youth, better-skilled workers, increased taxes, and greater economic and social stability.
The strengthened economic cooperation between Nigeria and the German Chamber of Commerce is expected to yield positive outcomes for both countries. As the partnership continues to evolve, it is likely to create new opportunities for investment, trade, and skills transfer, ultimately contributing to the economic growth and development of Nigeria. With the German team’s visit and the planned meetings with Nigerian ministers, the stage is set for further collaboration and the exploration of new avenues for cooperation.