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France has reaffirmed its commitment to strengthening trade and investment with Nigeria, its largest trading partner in sub-Saharan Africa and the biggest recipient of French investments in West Africa.
More than 100 French companies now operate in Nigeria, employing over 16,000 people, while the French Development Agency has invested more than €3.3bn in projects across 23 states.
France said it is expanding support for Nigeria’s energy sector through new investments, including an oil and gas business mission and a pilot hydroelectric project in Katsina State.
July 23, (THEWILL) — France has reaffirmed its commitment to expanding trade and investment with Nigeria, citing growing commercial partnerships and development financing as key pillars of the two countries’ economic relationship.
The European nation described Nigeria as its largest trading partner in sub-Saharan Africa and the leading destination for French investments in West Africa, accounting for about 60 percent of the region’s French investment portfolio.
Speaking during a reception to mark France’s National Day in Lagos, the Consul General of France, Laurent Favier, said bilateral relations had strengthened in recent years through increased investment, diplomatic engagement and cooperation across critical sectors of the economy.
According to him, more than 100 French companies currently operate in Nigeria, employing over 16,000 Nigerians in industries including energy, infrastructure, technology, education, and manufacturing.
France expands commercial engagement
Favier said France has continued to deepen business ties with Nigeria through targeted investment initiatives aimed at supporting economic growth and private sector development.
He disclosed that Business France recently led an oil and gas trade mission to Nigeria, bringing together about a dozen French companies seeking investment opportunities in the country’s energy sector.
He also said the French Treasury is financing a pilot project to develop small hydroelectric power stations in Katsina State as part of broader efforts to strengthen electricity access and support Nigeria’s energy transition.
According to Favier, the initiatives reflect France’s long-term commitment to building sustainable commercial partnerships while encouraging innovation and private sector participation.
Development financing strengthens partnership
Beyond private investment, France said development financing has remained central to its engagement with Nigeria.
Favier said the French Development Agency has supported 57 projects across 23 states over the past 17 years, mobilising more than €3.3 billion in funding, including over €1.1 billion through its private-sector arm, Proparco.
He said the investments have focused on improving infrastructure, supporting businesses, creating jobs and expanding skills development to promote inclusive economic growth.
Favier added that recent engagements between both countries, including the Creation Africa Forum held in Lagos last year, had opened new opportunities for collaboration in vocational training, digital innovation, higher education and the creative industry.
He said France would continue working with Nigeria to deepen cooperation across trade, investment, innovation, education, and sustainable development.
Ogochukwu Onwaeze, THEWILL Read More