• Gets 60% total investments in West Africa
The Consul General of France in Lagos, Laurent Favier, has said that Nigeria is the first trading partner for France in sub-Saharan Africa and remains the main destination for French investments in West Africa, with approximately 60 per cent control.
He noted that as part of the relationship between both countries, over 14,000 Nigerians are employed by over 100 French companies that operate across the country.
He made these remarks at this year’s celebration of the French National Day, where he highlighted the achievements of ‘Team France’ in the country, alongside its Nigerian partners.
These companies, he said, operate in key sectors like oil and gas, agriculture and agri-food, pharmaceuticals, renewable energy, technology, logistics and microfinance. He added that the investments include factories, farms and vocational training institutes with long-term partnerships that exemplify their entrepreneurial drive.
Favier noted that aside from the common values and bonds linking both countries, the bilateral relationship, which has spanned many decades, has experienced significant growth recently.
He noted that through various official visits over the past two years, climaxing with President Bola Tinubu’s state visit to France in late 2024, the relationship has improved.
He added that new partnerships and MoUs were established over the last few months towards job creation and entrepreneurship in key sectors such as vocational training, creative and cultural industries, digital and technological innovation, e-sport, student mobility and university education.
He added that the Cooperation and Cultural Department of the French Embassy in Lagos, through the Création Africa programme, continues to focus on the audiovisual sectors as well as cultural fields.
Favier said the initiatives emphasise professional training, support and funding for local projects, connection with French expertise and the mobility of Nigerian professionals to France for key industry events.
The Consul General added that following President Macron’s commitment, the Création Africa Forum will hold the second edition in Lagos following the success of its first edition held in Paris in 2023. This expanded edition in Lagos he said, will explore new fields and welcome over 600 African and European participants.
Also noting that Nigeria has been a significant technical and financial partner of the French Development Agency, he said roughly 3.3 billion euros has been invested in more than 57 projects, including 800 million euros through its private-sector subsidiary, Proparco.
The goal of the partnership between AFD and Nigeria he said, is to promote a sustainable and inclusive development model that creates employment, enhances infrastructure and industry growth.
“AFD’s financing has impacted 23 states, with 2.2 million people benefiting from access to services and infrastructure. AFD-funded projects have led to the creation of 300, 000 jobs and new industries,” he said.
Hailing Business France, the Economic Department, the French Development Agency (AFD) Group with its two subsidiaries, Proparco and Expertise France; the French Foreign Trade Advisors, Franco-Nigerian Chamber of Commerce, which has 500 members and the France-Nigeria Business Council among others, he said they have been significant in growing the bilateral and trade relationship between both countries.
