‘Nigeria is open for business,’ Tinubu woos French investors

President Bola Tinubu has assured French investors that Nigeria is open for business, emphasizing that his government is working to create a conducive environment for investment.

Speaking during a joint briefing with French President Emmanuel Macron at the Élysée Palace on Thursday, Tinubu highlighted Nigeria’s efforts to stabilize its security situation, noting significant improvements in recent times. He reassured investors of a free market economy, where businesses can operate without unnecessary hindrances.

“We are making strides in improving security and I assure you that Nigeria is ready for business,” said Tinubu. He emphasized the country’s vibrant and well-educated youth population, which is both skilled and ready to contribute to the country’s economic development. This, he said, presents a great opportunity for French investors and experts to collaborate with Nigeria in developing the workforce.

The Nigerian president also spoke about Nigeria’s push to diversify its economy beyond fossil fuels, with France playing a key role in this transition.

He cited Lagos’ efforts in taming the Atlantic Ocean and promoting the marine and blue economy, including fisheries, as part of the country’s economic potential.

Tinubu expressed his gratitude to the French government for providing a stable environment for Nigerian businesses in France and reiterated his administration’s commitment to creating similar conditions in Nigeria, particularly in the areas of food security and investment.

While acknowledging Nigeria’s ongoing challenges, including insecurity and inflation, Tinubu expressed optimism about future collaboration with France to address these issues, particularly in strengthening security and reducing migration.

He also appreciated Macron’s support for the defense industry and looked forward to future cooperation in that area.

Macron, who has worked to renew France’s ties with Africa since his 2017 election, affirmed that France will continue investing in Nigeria despite recent challenges to French influence on the continent, such as military coups and shifting attitudes.

Tinubu’s visit marks the first official state visit by a Nigerian president to France in over 20 years.

Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.