Vice President of Nigeria, Kashim Shettima, has stressed the need for a sustainable investment mindset, addressing climate change and energy transition through partnerships that benefit the economy, environment, and society.

He said Nigeria is reforming its regulatory framework to attract foreign direct investment, aligning with the African Continental Free Trade Area Agreement to enhance regional trade.

Shettima stated this on Tuesday in Lagos at the business forum of the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) as part of efforts to mark its French Week for 2024.

He said the relationship between Nigeria and France is marked by cooperation and mutual understanding, focusing on economic ties that are essential for both nations.

Shettima, who was represented by Technical Adviser to the President on Foreign Direct Investment (FDI), Office of the Vice President (OVP), Princess Zahrah Mustapha-Audu, said the week aims to enhance collaboration through sustainable investments, particularly in infrastructure, renewable energy, and agriculture.

According to him, France is identified as one of Nigeria’s largest trading partners, with French businesses playing significant roles in various sectors, including energy and finance. He said Nigeria’s large population, growing middle class, and abundant resources present significant opportunities for French businesses looking to expand.

He reaffirmed a commitment to a vibrant partnership focused on people, the planet, and prosperity, aiming for impactful collaboration for future generations. He said the commitment to reform and transparency in Nigeria aims to create a conducive environment for foreign investment, particularly from France, which is seen as a key partner in achieving mutual goals.

In his remarks, President of FNCCI, Guillaume Niarfeix, noted the collaboration between France and Nigeria across various sectors, particularly in energy, infrastructure, and technology. He emphasized the importance of business-to-business and business-to-government partnerships between French and Nigerian companies, showcasing mutual benefits.

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According to him, the Agence Française de Développement has invested significantly in Nigeria, financing numerous projects that support the Nigerian economy.

He said the French Chamber of Commerce in Nigeria, with its 400 members, plays a crucial role in facilitating business opportunities and promoting French investments in Nigeria.

He expressed optimism about the future of France-Nigeria relations, indicating that the partnership will continue to strengthen.

President of the France-Nigeria Business Council, Aigboje Aig-Imoukhuede, said the annual event celebrates the strong and dynamic partnership between France and Nigeria, which must continue to be nurtured, strengthened, and elevated. He said the two countries share a long-standing relationship built on continuous collaboration, shared values, and shared passions.

He noted that the partnership between both countries has become even more essential, offering both countries a chance to drive economic progress and strengthen connections—not just for the two countries but for their regions and the entire world.