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Nigerians in Germany to discuss how to save their country from economic crisis

The German chapter of the Nigerians In Diaspora Organization (NIDO) will host an annual summit, a business conference and an award ceremony in Hamburg from 30th September to 1st October 2016.

Mr Kenneth Gbandi, the president of NIDO Germany
Mr Kenneth Gbandi, the president of NIDO Germany

This year’s Nigerian-German Business & Investment Summit in Hamburg will look at how to diversify the Nigerian economy currently hit by problems arising from its over reliance on oil exports.

“Due to the sharp fall in crude oil prices since 2014, Nigeria has seen its annual export revenues reduced by more than 60 per cent, causing extreme economic problems for the country and a sharp devaluation of its currency, the naira, as oil exports account for more than eighty per cent of foreign exchange earnings,” The African Courier reported.

Kenneth Gbandi, the president of NIDO Germany, said the event will put the spotlight on the enormous opportunities in the non-oil economic sectors in Nigeria. “Our agriculture potential is largely untapped, we have many solid minerals that are yet to be exploited and our manufacturing is still at its infancy. So, we should consider the current economic crisis as an opportunity to diversify our economy,” he said.

Mr Gbandi added that the Summit will bring together German business people and Nigerian business people both from Nigeria and the Diaspora, as well as experts to deliberate on opportunities for trade and investment in Nigeria and explore possible partnerships.

Nido-Germany Nido-Germany1NIDO Germany is a non-profit organisation registered in Berlin. It uses the resources of all Nigerian Professionals in Germany to cooperate, present moral perception and civic responsibility that will boost the socio-economic advancement of Nigeria and the civil society.

The organization focuses on expert networking, societal advocacy, education, culture, healthcare, technological and economic empowerment projects.

The Nigerian-German Business Summit will be held on 30th September from 13:00 to 17:00. The following day, the Nigerian-German Business Info Evening & Award Dinner will be held from 15:00 to 20:00 at Zinnschmelze Barmbeker Verein für Kultur und Arbeit, Maurienstr.19, 22305 Hamburg (Opp. U/S Hamburg-Barmbek, beside Globetrotter & Museum der Arbeit).

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