Why we are building diverse cooperations with Nigeria – Macron


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French President, Emmanuel Macron, says Nigeria is a powerhouse in  Africa and that informs why his country is building a tight and diverse cooperation with Africa’s most populous nation.

Macron stated this on Wednesday in Paris at the Nigeria international Partnership Forum (NIPF), a high-level event on the sidelines of the Paris Peace Forum.

The one-day event was attended by President Muhammadu Buhari, ministers and business moguls from Nigeria and France.

The event was oganised to bring together the Nigerian and French governments including private sectors in wide-ranging discussions focused on security, regional stability, trade and industrialisation.

The event is also to attract investment to Nigeria, bridge existing infrastructure gaps, spotlight Nigeria’s immense trade and investment opportunities and reset false and distorted narratives about the country.

Macron who was represented by French Minister of Foreign Trade and Economy, Mr Franck Reister, said his country and Nigeria shared many strategic interests.

“France may seem a distant partner for Nigeria, even when it is surrounded by French-speaking countries with whom France shares a long history and where our companies have a strong foothold.

“However, the reality is actually quite different: because France mainly, is   Nigeria’s second financial bilateral partner after China, with around   3 billion euros of loans to the federal government.

“Nigeria is also our first trading partner on the continent and a very strategic one in the oil and gas sector since more than 10 per cent of our gas supply comes directly from Nigeria.

“More than 100   French companies are present  in Nigeria whereas almost 20 per cent of  French Foreign Direct investment in sub-saharian Africa are directed to Nigeria,” he said.

“In 2019, the stock in Nigeria reached the very impressive  9.7 billion euros and would like to stress that we have longstanding and intense cultural, academic and scientific relations,” he said.

He went further than, “Our culturaland   cooperation   network   in   Nigeria   is   quite   unique, with   11cultural centers throughout the country, all dedicated to promote the   ties   between   our   two   societies.”

Macron described France   also as a great supporter   of   the vibrant   cultural   creativity   of   the Nigerian people, as witnessed for instance, during the recent Africa 2020 season.

He noted that his country was committed to the stability of the Sahel region and the safety of maritime trade routes of the Gulf of Guinea.

Macron recalled that a week before now, the   Nigerian   Navy participated in the exercise Grand African Nemo, organised by the French Navy.

He said the successful operation underscored the great cooperation potential between both navies.

Macron, however, noted that in spite of these remarkable facts and figures, the trade relations between both countries had remained below its true potential.

“I believe that we have   much to build together to give bilateral trade a new impetus.

‘Nigerian people’s entrepreneurial spirit is also well known, and certainly the most dynamic among their peers in Africa.

“Of course, challenges remain on multiple fronts, and I commend the Nigerian government for tackling those topics head-on,” he said.

Macron said that more than 100 French businesses in Nigeria had created more than 10,000 jobs in Nigeria and were supporting the local communities where they were based,

“French entrepreneurs are constantly setting foot in Nigeria to invest in a wide range of sectors, from energy to digital, from agriculture to environment.

“It is not always easy but their commitment bears fruits. And I encourage all French companies present today to follow on their footsteps and get inspired by their example,” he said.

Macron assured that both French authorities and companies were committed to support the ambition of turning Nigeria into a strong industrial country, less dependent on oil and gas and imports.

He said the commitment informed why the French Agency for Development had invested, over the last   10   years, in multiple sectors such as infrastructure, transports, energy, creative industries and sports.

“And this is also why the French Treasury has decided to allocate to   your government a loan of more   than 50 million euro which will be the first for the Treasury since 1990 and the first ever French loan in the healthcare sector in Nigeria,” he said

The president assured that the France-Nigeria Business Council would be a catalyst to cementing cooperation and investments. (NAN)


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