France has reaffirmed its commitment to deepening trade and investment relations with Nigeria.
 
It described Nigeria as its largest trading partner in sub-Saharan Africa and the leading destination for French investments in West Africa.
  
Speaking at a celebration of France’s National Day, the Consul General of France in Lagos, Laurent Favier, said the France-Nigeria relationship has gained remarkable momentum in recent years, driven by expanding commercial ties, high-level diplomatic engagements and strategic partnerships across sectors including energy, infrastructure, technology, education, culture and entrepreneurship.

Nigeria currently accounts for about 60 per cent of French investments in West Africa, while over 100 French companies operating across the country employ over 16,000 Nigerians, underscoring the growing importance of the bilateral economic relationship.

To further strengthen commercial engagement, he said Business France organised an Oil and Gas mission to Nigeria last month, bringing together a dozen French companies to invest in Nigeria. Also, the French Treasury, he said, is supporting the electricity sector by funding a pilot project for small hydroelectric power stations in Katsina State.

According to Favier, these initiatives reflect the long-term partnerships developing between both countries and demonstrate the entrepreneurial dynamism and social commitment of French businesses operating in Nigeria.

The expanding economic relationship is also supported by significant development financing. Over the last 17 years, he said, the French Development Agency (AFD) has partnered with Nigeria to tackle development challenges through 57 projects across 23 states, mobilising over €3.3 billion in investments, including over €1.1 billion through its private-sector subsidiary, Proparco.

These interventions, he said, support entrepreneurs, create jobs, strengthen infrastructure, expand skills development and promote inclusive economic growth.

Beyond trade and investment, France said the bilateral relationship has witnessed a series of high-level engagements over the past year, including the Creation Africa Forum held in Lagos last year.

“The engagements have resulted in numerous partnerships aimed at promoting job creation, entrepreneurship and sustainable economic growth across vocational training, digital innovation, technology, higher education and the creative industries,” he said.

He concluded by saying that Team France will continue working with Nigeria to strengthen cooperation across trade, investment, innovation, education, culture and sustainable development.