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Radio France Internationale
Radio France Internationale
World
Melissa Chemam

Nigerian businesses court French investors during Tinubu's landmark visit

Nigerian President Bola Tinubu and French President Emmanuel Macron at the Les Invalides monument in Paris on 28 November, 2024. AP - Michel Euler

President Bola Tinubu's state visit to France brings a delegation of Nigerian business leaders seeking new investment in Africa's largest economy. It also reflects growing efforts to strengthen economic links between Nigeria and France.

Tinubu began his two-day trip on Thursday with a ceremony at Les Invalides in central Paris, accompanied by President Emmanuel Macron, the leaders' two wives and representatives of the French army and ministries.

It comes as Nigeria aims to tackle economic challenges, including insecurity and corruption, which have left more than half of the population of 129 million people living in poverty.

A major oil producer with a robust film industry, Nigeria offers significant potential for foreign investment.

Macron, who has long sought a "renewal" between Paris and Africa, said his country will "continue to invest" in Nigeria, at a time when France's influence on the continent is waning.

Travelling with Tinubu is a delegation of entrepreneurs and young business leaders in Paris for a packed programme of meetings, including dinner with the Macrons and talks at the French Development Agency.

Deepening ties

Among them is Kolawole Osinowo, CEO of Baobab Plus, a French-Nigerian renewable energy company, who told RFI Tinubu's visit was a chance to deepen ties and encourage sustainable growth.

"A lot of people in Nigeria don't have access to electricity, so we're supporting the government by bridging the gap," he said.

“There’s a connection in terms of technological and financial support that is key.”

Osinowo hopes to move beyond aid-based relationships between Africa and Europe, pushing instead for increased investment to boost Nigeria’s economy and create jobs.

“This is essential so that people don’t have to migrate and cause different migration issues around the world,” he added.

Nigeria's Tinubu sworn in as president, bringing hopes of economic prosperity

Diversifying partnerships

France is looking to diversify its economic partnerships in Africa following military coups in Mali, Burkina Faso, Niger and Gabon.

Nigerians, it appears, have quite a positive image of France.

Because Nigeria is not a former colony, it has a simpler relationship with France than most of its neighbours, Abuja-based political scientist Jibrin Ibrahim told RFI.

Meanwhile the arts have also played a role in fostering positive perceptions of France.

Uchenna Pedro, founder of lifestyle platform Bella Naija and one of Forbes Africa's 50 Most Influential Women, said France had much to offer Nigeria as a potential partner – particularly in the creative industries.

Her platform already has ties to French companies, such as L'Oréal, in the beauty and fashion industries.

“French industries in my domains bring high value, and France’s belief in the arts makes it a great partnership,” said Pedro, who is part of the young leaders of the French Africa Foundation

Singer-songwriter and activist Chioma Ogbonna, known as Cill, agrees that French industries in the cultural domain bring high value.

"Because of how the arts and the creative industry thrives here in France and how it is prioritised, it is an important destination for Africans and Nigerians especially," she said.

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