French Foreign Trade Minister, Oliver Becht, has reaffirmed France’s dedication to enhancing bilateral cooperation with Nigeria in the crucial sectors of agriculture, energy, and technology.
Becht made these statements during the French-Nigerian Economic Summit held in Lagos, part of the annual “French Week” organized by the French-Nigerian Chamber of Commerce.
Highlighting the robust economic ties between France and Nigeria, Becht emphasized Nigeria’s significance as France’s leading trading partner in sub-Saharan Africa, contributing to over 20% of France’s trade with the region. With French investment stocks exceeding $10 billion, Becht applauded the presence of around a hundred French companies in Nigeria, creating jobs and contributing to the country’s economic growth.
Identifying agriculture, energy, and technology as high-potential areas for future cooperation, Becht expressed optimism in the wake of Nigeria’s reform agenda. He specifically praised Nigeria’s representation at the upcoming Paris International Agricultural Show in February 2024, signaling increased collaboration in the agricultural sector.
Addressing the energy sector, Becht commended French businesses’ involvement in Nigeria’s energy projects, highlighting initiatives like the Northern Corridor infrastructure project, where French companies provide advice and financing. He acknowledged the active participation of French energy majors, such as Engie and TotalEnergies, in Nigeria’s solar mini-grid industry, contributing to rural electrification.
In the technology sector, Becht emphasized France’s strength in entrepreneurship and innovation, ranking as the most attractive European country for start-up founders. He noted France’s position as a global leader in innovation and highlighted the potential for French-Nigerian cooperation in the tech space.
The Economic Summit included a signing ceremony, unveiling several deals, particularly in agribusiness. Projects like the cultivation of bananas in Cross River State and collaborations between companies like FanMilk and Koolboks for innovative delivery operations were announced. The event witnessed the presence of key figures, including the President of the French-Nigerian Chamber of Commerce and the President of the France-Nigeria Business Council.
