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

Speaking today during a joint briefing with French President Emmanuel Macron at the Elysee Palace, Tinubu highlighted ongoing efforts to stabilize Nigeria’s security system, stating, “We are making significant progress in the area of security. I assure all investors that Nigeria is open for business.”

He also reaffirmed Nigeria’s commitment to a free-market economy, promising, “Easy entry and exit for businesses, with no obstacles.”

The Nigerian president pointed to the country’s youthful, skilled, and educated population as a key asset for French investors.

“We have a vibrant youth population ready to be trained and developed to drive our economy,” Tinubu said during his three-day visit to France.

“This is why we need French experts and investors to contribute to youth development.”

Diversifying the Economy

Tinubu also spoke about Nigeria’s efforts to reduce dependence on fossil fuels and identified France as a potential partner in this transition.

“We have immense potential to diversify our economy away from fossil fuels,” he said.

He cited Lagos as an example, noting achievements in marine and blue economy development, including fisheries.

The president expressed gratitude to the French government for fostering a stable environment for Nigerian businesses in France and pledged to create similar opportunities for French investors in Nigeria, particularly in food security.

Collaboration with France

Tinubu acknowledged the challenges Nigeria faces, including insecurity and economic difficulties, and emphasized the need for partnership with France to address these issues.

“Nigeria is ready to work with France to establish robust security operations to curb migration and ensure a peaceful business environment,” he said.

Addressing the defense industry, Tinubu expressed appreciation for Macron’s support and future promises.

Macron, in turn, reiterated France’s commitment to investing in Nigeria despite challenges facing French influence in Africa.

This visit marks the first official state visit by a Nigerian leader to France in over 20 years.