FRANCE: President Bola Tinubu has reassured French investors that Nigeria is open for business, emphasizing his government’s efforts to create an environment conducive for their success.
Speaking at a joint briefing with French President Emmanuel Macron at the Elysee Palace on Thursday, Tinubu highlighted the progress his administration has made in improving security and creating opportunities for investment.
“We’ve been working on stabilizing the security system in Nigeria, and we are getting closer and closer,” Tinubu said. “We are doing better now in the area of security. I can assure all the investors that Nigeria is open for business.
Tinubu emphasized that Nigeria is committed to a free market economy, guaranteeing easy entry and exit for investors with no hindrances. He also spotlighted Nigeria’s young, skilled, and educated population, stressing that this demographic is ready to contribute to the country’s economic development
President Tinubu and his delegate in France
We have a vibrant youth population that is well-educated, skilled, and ready to be trained for the development of our economy,” Tinubu remarked. “This is why we need French expertise and investment to further develop our youth.
The Nigerian president, who is on a three-day official visit to France, further emphasized the nation’s push to diversify its economy beyond fossil fuels. He pointed to opportunities in sectors such as marine and blue economy, particularly in Lagos, where the country has made significant strides in managing the Atlantic Ocean.
“We have the potential to diversify our economy from fossil fuels,” he said. “In Lagos, for example, we have tamed the Atlantic Ocean so far and we are still promoting the marine and blue economy. Fisheries are an important aspect of our economic potential.
Tinubu also expressed gratitude to France for providing a stable environment for Nigerian businesses operating in the country and assured that Nigeria is working to provide similar conditions for French investors in sectors such as food security.
We are creating the same ground for investment in the Nigerian economy for the French nationality,” Tinubu added.
Despite Nigeria’s position as Africa’s leading oil producer and its thriving film industry, Nollywood, the country faces challenges such as insecurity and inflation, which have pushed millions of Nigerians below the poverty line. However, Tinubu acknowledged the need for continued efforts to address these issues, particularly through stronger partnerships with France.
Nigeria is ready to partner with France so that we will have a very robust security operation that will stop migration, Tinubu said, reiterating the importance of a peaceful environment for business growth. He also expressed appreciation for France’s defense cooperation and future support.
French President Macron, who has been advocating for a “renewal” of France’s relationships with Africa since his 2017 election, reaffirmed France’s commitment to investing in Nigeria despite shifting dynamics on the continent.
Tinubu’s visit marks the first official state visit by a Nigerian leader to France in over 20 years
