‘Nigeria Is Open For Business,’ Tinubu Woos French Investors

French investors are welcome in Nigeria, according to President Bola Tinubu, who has assured them that his administration is laying the groundwork for their success.

At a joint briefing with French President Emmanuel Macron at the Elysee Palace on Thursday, Tinubu made this statement.

“We are getting closer and closer on stabilising the security system in Nigeria,” Tinubu said, referring to their ongoing efforts. As far as security is concerned, we are making progress. All investors can rest assured that Nigeria is a welcoming place to do business.

A free market economy with “easy in, easy out” and “no hindrance” was what Tinubu promised.

The Nigerian president underscored his country’s youth who are skilled, educated, and ready to be trained as part of the reasons French investors should look towards the West African nation.

“We have a vibrant youth population that is well educated, skilled, and ready to be trained for the development of our economy,” Tinubu who is on a three-day visit to France told the gathering.

“This, I will emphasize, is why we need the French experts and investors to do more in this area to help develop our youth population.”

He said Nigeria is working on diversifying its economy away from fossil fuels and believes France can play a key role in that move.

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

“In Lagos, for example, we have tamed the Atlantic Ocean so far and we are still promoting marine and blue economy. Fishery is an important aspect of our economic potential,” the 72-year-old said.

President Tinubu thanked the French government for providing stability for Nigerian businesses in the European country.

“Thank you for creating a conducive environment for them to flourish and we are creating the same ground for investment in the Nigerian economy for the French nationality in the area of food security,” Tinubu added.

President Macron and First Lady Brigitte honoured President Bola Tinubu and First Lady Oluremi Tinubu during a welcoming ceremony during their official state visit to France image.twitter.com/enDXNF7Mx0

Nigeria is Africa’s top oil producer and boasts a vibrant film industry, branded “Nollywood”.

But insecurity and other difficulties have left millions of Nigerians living below the poverty line with inflation statistics hitting new highs.

Tinubu admitted the government still has to do more and wants to cooperate with France in that area.

“Nigeria is ready to partner with France so that we will have a very robust security operation that will stop migration,” he continued, re-echoing the necessity for a calm environment for companies to grow.

“On the defense industry,” he said Macron, “I really appreciate what you shared with us and the promise for the future”.

Macron, 46, who has sought a “renewal” between Paris and Africa since his 2017 victory, said his nation will “continue to invest” in Nigeria, at a time when France’s influence on the continent is dwindling following military coups and shifting attitudes.

Tinubu’s visit is the first formal state visit by a Nigerian leader in more than two decades.