Get Guardian on GoogleNigeria and France are seeking to deepen bilateral trade and investment in the energy sector, with industry leaders identifying gas development, infrastructure financing, technology transfer and local manufacturing as major opportunities for expanding economic cooperation.
The call was made at an energy roundtable organised by the Franco-Nigerian Chamber of Commerce and Industry (FNCCI) as part of activities marking French Week 2026 in Lagos.
The engagement brought together energy executives, government representatives and diplomatic officials to explore investment opportunities and strengthen commercial partnerships between both countries, particularly in the oil and gas value chain.
The Managing Director and Chief Executive Officer of TotalEnergies Nigeria, Matthieu Bouyer, said Nigeria remained an important investment destination for French businesses, noting that the company had operated in the country for 70 years.
He said more than 100 French companies were operating across different sectors of the Nigerian economy, including energy, infrastructure, logistics, technology, agriculture and consumer goods, while bilateral trade reached approximately $4.7bn in 2025.
Bouyer said the changing dynamics of the global energy industry required Nigeria and its international partners to focus on investments that would increase production, improve operational efficiency, strengthen energy security and reduce emissions.
He identified energy transition and decarbonisation, gas infrastructure and domestic utilisation, as well as technology transfer and local content as three major areas for expanding cooperation.
According to him, Nigeria’s substantial gas resources offer opportunities to attract investment in electricity generation, industrial production, exports and domestic energy supply.
He, however, stressed that unlocking the opportunities would require adequate infrastructure, improved investment conditions and stronger collaboration between international investors and local businesses.
The TotalEnergies chief said partnerships should extend beyond the importation of technology to include skills development, training, knowledge sharing and the creation of competitive Nigerian suppliers.
He added that the company’s long-standing presence in Nigeria reflected its commitment to developing local talent, working with Nigerian contractors and investing for the long term.
The Managing Director of NLNG, Adeleye Falade, said the country’s gas resources could provide a stronger foundation for industrialisation, economic diversification and increased export earnings.
He disclosed that Nigeria had approximately 215 trillion cubic feet of proven gas reserves, with broader resource estimates reaching about 600 trillion cubic feet.
Falade said the country needed to maximise its gas resources to support economic growth, rather than remain predominantly dependent on oil revenues.
He described gas as a foundation for industrial development, with potential to support manufacturing, electricity generation, clean cooking and international trade.
A major investment opportunity identified at the roundtable was NLNG’s Train 7 expansion project, which Falade said was nearing completion.
He disclosed that engineering work had reached 99.5 per cent, procurement 99.8 per cent and construction approximately 94 per cent, with the company targeting the end of 2027 for the safe commencement of operations.
According to him, the project will increase NLNG’s production capacity from 22 million tonnes per annum (mtpa) to approximately 30mtpa, representing an increase of about 35 per cent.
Falade said the expansion would strengthen the company’s capacity to meet long-term customer commitments, increase export earnings and generate additional revenue for the Federal Government.
He explained that reliable gas supply remained critical to sustaining the company’s operations and maximising the investment in the new production facility.
On the project’s contribution to the domestic economy, he said approximately 95 per cent local content had been achieved on Train 7, with Nigerian companies involved in manufacturing pressure vessels, cables, valves and other project components.
He added that about 16,000 people, largely young Nigerians, were engaged during the construction phase, while wider project activities supported an estimated 40,000 jobs.
Falade said the skills, technical expertise and manufacturing capabilities developed through the project would create opportunities for Nigerian companies to participate in future energy infrastructure investments.
He also disclosed that NLNG had generated approximately $149.6 billion in revenue since commencing operations, paid $47.9 billion in dividends and remitted about $10.5 billion in taxes to the Federal Government.
According to him, the company’s expansion would increase its financial contributions to the government through taxes, dividends and other payments, providing additional resources for economic development.
He further identified domestic LPG supply as an important area of investment and economic value creation, noting that NLNG had been directed in 2022 to channel all its LPG production to the domestic market to support clean cooking initiatives.
He said the company’s capacity to supply the domestic market was expected to increase by approximately 50 per cent following the completion of Train 7.
The NLNG managing director also highlighted improvements in operational efficiency and pipeline security as important factors for sustaining production and attracting further investment into the gas industry.
Earlier, the Consul-General of France in Lagos, Laurent Favier, said the energy sector remained central to the commercial relationship between both countries.
He noted that Nigeria’s crude oil and condensate production averaged 1.77 million barrels per day in 2025, while gas supply reached 7.2 billion standard cubic feet per day.
