In Lagos, several agreements in principle were inked between Nigerian and French companies, highlighting France’s commitment to bolstering investments in Nigeria amid challenges to its military presence across the continent.
During a two-day visit to Nigeria’s economic hub, Olivier Becht, the Minister Delegate for French foreign trade, led an economic summit and supervised the signing of these pivotal agreements alongside approximately ten French companies.
Becht emphasized Nigeria’s strategic significance, citing it as France’s primary commercial partner in sub-Saharan Africa, with over a hundred French companies operating in the country and employing more than 10,000 individuals. He also announced Nigeria’s participation for the first time at the Paris International Agricultural Show in February.
The agreements spanned various se犀利士 ctors, with five notable partnerships signed between Compagnie Fruitière/Raedial Holdings, Danone/Koolbok s, Echosys/Rensource and Watt Renewables, and Bpifrance/Access Bank, covering agriculture, energy, and technological innovation.
Didier Mas from Compagnie Fruitière expressed optimism about Nigeria’s potential for growth and openness under the current government, revealing plans to partner with Readial Holdings for banana cultivation in Cross River State, situated in the southern region.
Bpifrance entered a “letter of intent” with Access Bank to expand their operations in France and Nigeria, reflecting the financial sector’s interest in Bpifrance’s influence, as noted by Michael Wenegieme, head of Access Bank’s France department.
This visit by Olivier Becht is the third by a French representative since President Ahmed Bola Tinubu assumed office in May. It follows closely after the visit of Catherine Colonna, French Minister of Foreign Affairs, to Abuja, the political capital, on November 3.
Addressing misconceptions about France’s role in Africa, Becht emphasized that despite military shifts, France remains invested in the continent’s development and is striving to strengthen its economic presence to counter the influence of China and Russia.