President Bola Tinubu has assured French investors that Nigeria is open for business, emphasising that his government is creating a conducive environment for investment.
Tinubu made these remarks on Thursday during a joint briefing with French President Emmanuel Macron at the Elysee Palace.
“We have been working to stabilise Nigeria’s security system, and we are getting closer,” Tinubu stated. “We are making progress in the area of security, and I can assure all investors that Nigeria is indeed open for business.”
He further asserted, “We guarantee a free market economy—easy entry and exit without hindrances.”
The Nigerian President highlighted the country’s youthful population, which is skilled, educated, and eager to be trained, as a compelling reason for French investors to consider opportunities in Nigeria.
“We have a vibrant youth population that is well-educated and skilled, and they are ready to be trained to help develop our economy,” he noted during his three-day visit to France.
Tinubu emphasised that Nigeria is working to diversify its economy away from fossil fuels and believes France can play a pivotal role in this transition.
“We have the potential to move away from fossil fuels,” he explained. “In Lagos, for instance, we have made significant strides in managing the Atlantic Ocean and are promoting marine and blue economies. Fisheries represent a key aspect of our economic potential.”
The 72-year-old President expressed gratitude to the French government for fostering an environment that supports Nigerian businesses in France.
“Thank you for creating a conducive atmosphere for them to thrive. We are committed to establishing the same groundwork for investment in Nigeria for French nationals, particularly in the area of food security,” Tinubu said.
Nigeria, Africa’s leading oil producer, also boasts a robust film industry known as “Nollywood.” However, insecurity and other challenges have left millions of Nigerians living below the poverty line, with inflation reaching new highs.
Tinubu acknowledged the need for further improvements and expressed a desire to collaborate with France in this regard.
“Nigeria is ready to partner with France to develop a robust security operation that can curb migration,” he added, reiterating the importance of a peaceful environment for business growth.
Regarding the defense industry, he told Macron, “I sincerely appreciate what you have shared with us and the promises for the future.”
President Macron, who has sought to renew relations between Paris and Africa since his 2017 election, affirmed that France will continue to invest in Nigeria, especially as its influence on the continent wanes due to military coups and shifting attitudes.
Tinubu’s visit marks the first official state visit by a Nigerian leader in over two decades.
