The French government has reaffirmed its confidence in Nigeria’s economic reforms, pledging deeper investments across key sectors such as energy, manufacturing, and technology.Speaking at a press conference in Lagos on Monday ahead of the 40th anniversary of the Franco-Nigerian Chamber of Commerce and Industry, the Consul-General of France in Lagos, Laurent Favier, said France remains firmly committed to strengthening its economic and diplomatic partnership with Nigeria.Since 2023, President Bola Tinubu’s administration has implemented bold but painful reforms that have caught the attention of global investors. These include the removal of long-standing fuel subsidies, unification of multiple foreign-exchange windows into a single market rate, and new measures by the Central Bank of Nigeria to strengthen corporate governance and stabilise the naira.The World Bank and the International Monetary Fund have both described these moves as essential for rebuilding fiscal buffers and restoring investor confidence, even as Nigerians grapple with higher living costs. The reforms are part of the government’s medium-term plan to achieve seven per cent economic growth by 2027.
Favier said the government of President Emmanuel Macron would continue to support initiatives that promote sustainable development, innovation, and job creation, noting that Nigeria’s ongoing policy reforms have created a more enabling environment for foreign investors.“We must commend the Nigerian government for its bold reforms, which are opening up the business environment and reinforcing bilateral relations,” Favier said. “France is betting on Nigeria’s potential not just as an economic powerhouse, but as an innovation hub for Africa’s future.”The Consul-General described Nigeria as France’s leading trading partner in sub-Saharan Africa and the fourth largest across the continent, accounting for about 20 per cent of France’s trade within the region.
The President of FNCCI, Guillaume Niarfeix, said the chamber has played a pivotal role in promoting trade relations between the two countries.With support from the French embassy, the consulate, Business France, AFD, Proparco, and French Tech, he said the FNCCI remains one of the most active bilateral chambers of commerce in Nigeria.“Nigeria’s openness to the French business community reflects mutual respect and a shared vision,” Niarfeix said. “This 40th anniversary celebration is not only about recognising our past achievements but also reaffirming our joint commitment to the future.”As part of activities marking the anniversary, the FNCCI announced the French Week 2025, scheduled for 7–14 November in Lagos.The week-long celebration will feature an opening cocktail ceremony, a start-up summit, a business forum, and an awards gala night highlighting four decades of Franco-Nigerian economic collaboration.Organisers said the events will serve as a platform to deepen business-to-business engagements, explore new investment opportunities, and celebrate the enduring friendship between France and Nigeria.
