Nigeria emerges as French investment hub, officials say

Franco-Nigerian Chamber of Commerce and Industry, the Consul-General of France in Lagos, Laurent Favier

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French companies are stepping up engagement with Nigeria, targeting key sectors including finance, technology, and agriculture, the Consul General of France in Lagos, Laurent Favier, said.

Speaking at the recent 2025 French Week business forum in Lagos, organised by the Franco-Nigeria Chamber of Commerce and Industry, Favier stressed the importance of moving beyond dialogue to actionable business-to-business and business-to-government partnerships.

“Energy, agriculture, technology, finance, and services underpin resilient value chains,” Favier said, urging delegates to pursue initiatives that can be implemented in the near term.

He noted that Nigeria’s four largest banks, Access Bank, Zenith Bank, UBA, and First Bank of Nigeria, already have a presence in Paris, facilitating cross-border transactions and project financing.

Favier highlighted growing interest from both French and Nigerian companies in agriculture, technology, and the creative industries, signalling an expanding bilateral economic relationship.

He also said plans are underway for a ministerial visit to Nigeria in 2026, with a large delegation expected to strengthen ties and identify bankable projects.

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described Lagos as a hub for trade, technology, and services.

She noted its GDP of around $259 bn, contributing more than 30 per cent to Nigeria’s economy, and said the state offers opportunities for French investors to partner with local startups and innovators.

“From fintech to AI, health tech to digital agriculture, Lagos offers a dynamic and youthful ecosystem. French investors can co-create solutions for Africa and the world,” Ambrose-Medebem said.

President of the France-Nigeria Business Council, Aigboje Aig-Imoukhuede, said the council, established in 2019, is helping move relations beyond diplomacy into practical economic cooperation led by the private sector. Partnerships are already underway in energy, infrastructure, finance, and culture, including the Agora project, a collaborative platform focused on urban sustainability.

Justice has over three years experience spanning digital and print media. At The PUNCH, he currently covers the automobile sector with special interest in features and industry analysis.

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