Nigerian presidential spokesperson Ajuri Ngelale announced on Tuesday, November 21, that Nigeria and Germany have signed gas supply agreements and $500 million in green energy investments.

The gas agreement was signed between Riverside LNG (Nigeria) and Johannes Schuetze Energy Import AG (Germany), the same source said. Thus, Nigeria will supply 850,000 tons of natural gas to Germany every year in a first stage and 1.2 million tons later.

The second agreement has been signed between the Nigerian Union Bank of Nigeria (UBA) and the German asset manager DWS Group. It foresees the mobilization of $500 million in investment in renewable energy projects across Nigeria, mainly in rural communities.

These agreements were signed during the fourth edition of the Compact with Africa (CwA) political-economic initiative conference, which took place on 20 and 21 November in Berlin.