President Bola Tinubu’s visit to France reaffirmed Nigeria’s commitment to deepening bilateral ties and attracting investment in critical economic sectors.

This high-profile visit comes as 2024 half-year foreign trade data highlights France as Nigeria’s sixth-largest trading partner, with total trade volumes at N4.4 trillion.

Notably, exports to France stood at N3.4 trillion, making it Nigeria’s largest single-country export destination and second only to Africa as a region.
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In a high-profile meeting at the historic Palais des L’Elysée, President Tinubu and his French counterpart, Emmanuel Macron, explored avenues to strengthen their economic and diplomatic ties

Tinubu outlined an ambitious agenda focusing on key areas of collaboration, aimed at unlocking Nigeria’s untapped potential and fostering mutual prosperity.

Here are the 10 key economic priorities outlined by President Tinubu during his Paris visit:

Agricultural Development and Food Security

President Tinubu emphasized the need for increased French investment in Nigeria’s agricultural sector, with a focus on food security. He stated, “The French-Nigeria Business Forum is already contributing significantly, but we must do more on food security. It is our responsibility to create a program that attracts private sector investment in this area.” Tinubu also highlighted Nigeria’s thriving financial sector as a key driver for agricultural investment. He assured that Nigeria is creating an investment-friendly environment for French businesses, especially in food security. Nigeria’s financial services sector recorded a GDP growth rate of 30.83% in Q3 2024, boosting the overall GDP growth to 3.46%.

2. Solid Minerals Exploration

The President invited French investors to explore opportunities in Nigeria’s underdeveloped solid minerals sector, calling for de-risking measures to encourage investment. He said, “We should reduce the risks in solid mineral investments. We have the potential, and we have agreed on strengthening our relationship.” A new agreement was signed during the visit, signaling increased French involvement. Under Tinubu’s Renewed Hope Agenda, Nigeria aims to make its mining sector a central driver of economic diversification, modernizing the Nigerian Minerals and Mining Act, and offering incentives like tax waivers and security reforms to attract foreign investors.

3. Youth Development and Training

Tinubu stressed the importance of equipping Nigeria’s youthful population with necessary skills through French-backed training initiatives. He said, “Nigeria is open for business. We have a vibrant, educated youth population ready for training in entrepreneurship and development.” Tinubu requested specific programs to enhance the entrepreneurial capacities of Nigerian youth.

4. Energy Transition

The President encouraged French companies to collaborate with Nigeria in its pursuit of cleaner energy solutions while also optimizing current energy resources. Nigeria’s energy transition strategy aims to achieve net-zero emissions by 2060, ensuring economic growth and energy access. Efforts focus on decarbonizing key sectors such as power, cooking, oil and gas, transport, and industry, and include promoting renewable energy, clean cooking technologies, and utilizing natural gas as a transitional fuel. International partnerships, like the wind energy deal with Germany, further support these efforts.

5. Blue Economy and Fisheries

Tinubu highlighted Nigeria’s untapped blue economy, particularly in fisheries, noting Lagos as an example of effective resource management. He said, “In Lagos, we have tamed the Atlantic Ocean. For us, fisheries are a vital area for investment.” Tinubu encouraged French investors to explore these opportunities, emphasizing the ease of doing business in Nigeria. Under Tinubu’s agenda, Nigeria is prioritizing blue economy development, including enhancing maritime security through initiatives like the Deep Blue Project, which has significantly reduced piracy.

6. Security Cooperation

Tinubu called for increased cooperation with France to combat terrorism and address migration challenges, stating, “Nigeria is a partner in progress. We are ready to collaborate with France on security operations to address migration issues.”

7. Education and Child Welfare

The President emphasized the critical importance of child education and welfare for national development. He remarked, “A nation suffering from hunger cannot focus on weather or the environment. No child should go to bed hungry in the 21st century.” He proposed solutions such as providing children with basic nutritional support to ensure they remain in school, stating, “If an African child is given a glass of milk in class, they will stay in school to learn. The more educated our children, the better for our future.”

8. Defense and Technology

In defense discussions, Tinubu sought advanced technological solutions to enhance Nigeria’s security and defense capabilities. He emphasized the shared responsibility of governments in ensuring regional stability.

9. Support for Creative Industries

President Macron praised Nigeria’s creative industries as a powerful growth engine and pledged support. Tinubu urged deeper collaboration in promoting Nigerian art, music, and film on the global stage, as part of broader youth-focused initiatives.

10. Trade and Investment Ease

Tinubu reaffirmed Nigeria’s openness to foreign business and reassured French investors that the operating environment is improving. “We are working on stability and are continuously making progress,” he said. He highlighted ongoing reforms aimed at simplifying trade procedures and encouraging foreign direct investment, further asserting, “Nigeria is open for business.”

Macron’s Commitment to Strengthened Ties

President Macron described Tinubu’s visit as a landmark moment in strengthening bilateral relations, praising his leadership and vision. He stated, “You are the great leader of the great country in Africa. We appreciate your visionary leadership and energy in transforming your country’s economy.” Macron expressed France’s commitment to expanding cooperation, particularly in solid minerals and youth development, noting that global challenges require collaborative solutions. He also emphasized that France will work closely with Nigeria and ECOWAS to reinforce regional partnerships.