France Announces Support For Energy In Nigeria

The French Minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Olivier Becht, has disclosed the commitment to support the Nigerian government and private sector in the area of energy.

While speaking at the French-Nigerian Economic Summit in Lagos, Becht, noted that the French businesses already have a strong presence in Nigeria, with RTE- the national power transporter in France – providing advice for the conception of the Northern Corridor, a major infrastructure project to which the Agence Française de Développement (AFD) is contributing €200m in financing.

According to him, “France is among the very top investors to Nigeria, with over $10 billion in investment stocks. Together, the hundred or so French companies that have permanent presence in Nigeria, in a wide range of sectors, employ over 10,000 people in the country, mostly Nigerians.

“These French companies are not just selling French products: they are actually investing in Nigeria’s economy and creating jobs, factories, farms and vocational training centres.”

The Chairman of the France-Nigeria Business Council, Dr Hebert Wigwe, also explained the need for a network to help businesses in Nigeria grow. He noted that the establishment of Access Bank in Paris is a milestone expected to support French businesses coming to Nigeria and vice versa.

The President, French-Nigerian Chamber of Commerce and Industry (FNCCI), Usman Mohammed, also expressed commitment for the partnership with the France-Nigeria Business Council, noting that the goal is to promote businesses between France and Nigeria.