France has a complicated relationship with Africa, dating back to colonialism, with very ugly vestiges of the past doting the West Coast. But the country is determined to forge a new bond with the continent, and Nigeria is its focal point. Nigeria holds a promise the French find difficult to resist. With 400 million people, the African giant will be the third most populous country in the world in less than 30 years, after India and China, and most of them would be young people under 30. But there’s more to Nigeria than demographics. It is an economic, cultural, and continental powerhouse. Our music, cuisine, films, and fashion have captured global interest and herald a forthcoming gush: the rise of “Made in Africa.’’ This week, President Bola Tinubu is leading a delegation of government officials and Nigeria’s business leaders on a state visit to France, with the involvement of the France-Nigeria Business Council (FNBC), to explore business partnerships, investment, and deepen existing opportunities.
Read also: Nigerian President to depart for France on 3-day state visit
Chaired by Aigboje Aig-Imoukhuede, CFR, a prominent Nigerian business leader, the council provides a platform for the private sector of both countries to exchange ideas and enhance economic ties. Established under the patronage of President Emmanuel Macron in 2018, FNBC plays a crucial role in fostering international partnerships that enhance economic development, cultural exchange, and investment opportunities between the two countries. FNBC is featured prominently in several events, including bilateral talks between the two leaders during the President’s three-day state visit. On Thursday, November 28, there was a formal meeting of FNBC at the Marigny—the official Paris hotel used to host foreign leaders—held in the presence of President Tinubu and President Macron as part of the state visit. The meeting emphasised Nigeria’s business environment and profitability. Aig-Imoukhuede stated that “this was a special relationship at a special time,” a powerful remark emphasising the opportunities in Nigeria’s business environment and scope for generating corporate profits. It was a fitting counterweight to the noisy negative narratives on social media. There were also speeches by the French Minister for Finance and his Nigerian counterpart, Mr. Wale Edun.
Attending from the Nigerian business sector are Aliko Dangote, chairman of Dangote Industries Limited; Roosevelt Ogbonna, CEO of Access Bank, Nigeria’s largest bank by assets and customer base; and other business leaders.
Among French business leaders that would be meeting with their Nigerian counterparts are Patrick Pouyanne, chairman and CEO of Total Energies; Rodolphe Saade, chairman and CEO of CMA CGM, a shipping and logistics company; and Bernard Arnault, chairman and CEO of the LVMH Group, a multinational conglomerate specialising in luxury goods. There’s also Eva Berkene, CEO of Eutelsat, one of the world’s leading satellite operators with a powerful fleet of satellites serving users across Africa, Europe, Asia, and the Americas; Olivier Blum, CEO of Schneider Electric, a multinational corporation that specialises in the digital transformation of energy management and transformation; and many other business icons.
Such a fine collection of French business leaders is the right audience we should be talking to about the energy of Nigeria that produces, innovates, invests, consumes, excels, and is fearless. Our optimism despite our challenges makes Nigeria one of the most hopeful nations on earth—a trait shared across its vibrant population. The world should know about Nigeria’s rising middle class, counted in millions; our businesses that are expanding across Africa and putting their footprints far and wide; our unicorns like Flutterwave and Moniepoint; and Africa’s young entrepreneurs who are designing digital, energy, and urban solutions to tackle the continent’s pressing challenges.
France has a unique opportunity in Nigeria, and there is indeed a special bond between both countries, not just because President Macron once lived in Lagos, but because France, like Nigeria, is an economic and cultural powerhouse. France, too, entertains the world through music, cinema, culture, and innovations. Just as Nigeria is a gateway to Africa, France is a gateway to Europe, and there’s plenty for both countries to discover about each other. Building on this capital, France must not miss the Nigerian moment. It must not overlook the “Made in Africa’’ revolution, which aims to redefine industries worldwide. Investing in Nigeria and forging partnerships with Nigerian businesses means boarding the train of Africa’s industrialisation on time.
Bamidele writes from Lagos.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
