Nigeria accounts for 20% of France’s trade in sub-Saharan Africa

Director General of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), Mr. Moses Umoru, has said Nigeria accounts for around 20% of France’s trade with sub-Saharan Africa.

He stated that Nigeria is France’s leading trading partner in sub-Saharan Africa and the fourth-largest in Africa, behind Morocco, Algeria, and Tunisia.

In a recent chat with The Guardian on the significance of the French Week 2024 held in Lagos from the 8th–15th of November, Umoru stated that France has continued to play a strategic role in Nigeria’s development, with its business presence totaling over 100 companies and contributing to over 10,000 direct jobs.

He recounted that French companies like TotalEnergies continue to expand their investment in the energy sector with their recent drive to invest $6 billion (around €5.5 billion) over several years in Nigeria’s energy industry, particularly in gas and offshore projects. Fanmilk Nigeria, which was acquired by Danone, continues to partner with governments in various states and expand its investment in Nigeria with the recently commissioned production line in Ibadan.

He stated that Schneider Electric reinforces its operations in Nigeria with the commissioning of its new office facility recently and empowering individuals, communities, and industries with sustainable energy solutions.

He also mentioned that Access Bank Plc’s plans to foster France-Nigeria trade by establishing a commercial presence in Paris, SPIE Global Services Energy, commissioned a technical training centre in Port Harcourt to train Nigerians on the technical aspects of its operations and boost local content in the energy service sector.

Umoru said the French Development Agencies, AFD and Proparco, continue to support Nigeria’s development by funding sustainable projects in Nigeria. Business France supports the establishment of French companies in Nigeria by organising various missions cutting across multiple sectors, among others.

According to him, the 2024 French Week is aimed at celebrating the impact of French presence in Nigeria while highlighting the impact and collaborations made by French and Nigerian companies.

He said the 2024 French Week is organised by the Franco-Nigerian Chamber of Commerce and Industry, under the patronage of the French Embassy and French Consulate in Nigeria.

He noted that the 2024 event lineup has been carefully put together to project Franco-Nigerian business relations with a high-level business forum themed around “Enhancing France-Nigeria Relations Through Sustainable Investments and Partnerships.”

A Tech Startup conference and pitch session in partnership with French Tech Lagos, a cultural evening, among others.