Nigeria Accounts for 20% of France’s Trade with Sub-Saharan Africa, Says DG FNCCI

Sunday Okobi

The Director-General of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), Mr. Moses Umoru, has stated that Nigeria accounts for around 20 percent of France’s trade with sub-Saharan Africa.

 He disclosed further that Nigeria is France’s leading trading partner in sub-Saharan Africa, and the fourth-largest in Africa, behind Morocco, Algeria, and Tunisia.

In a recent chat with journalists on the significance of French Week 2024, which will take place in Lagos from November 8 to 15, Umoru stated that France has continued to play a strategic role in Nigeria’s development.

Its business presence totals over 100 companies and contributes to over 10,000 direct jobs.

The DG recounted that French companies, including TotalEnergies, continue to expand their investment in the energy sector with its recent drive to invest $6 billion (around €5.5 billion) over many years in Nigeria’s energy industry, particularly in gas and offshore projects.

Fanmilk Nigeria, which was acquired by Danone, and continues to partner governments in various states as well as expand its investment in Nigeria with the recently launched production line in Ibadan, Oyo State.

While stating that Schneider Electric reinforces its operations in Nigeria with the inauguration of its new office facility recently and empowering individuals, communities, and industries with sustainable energy solutions, Umoru also mentioned that “Access Bank Plc also revealed its plans to foster France-Nigeria trade by establishing a commercial presence in Paris, capital of France.

SPIE Global Services Energy, unveiled a technical training centre in Port Harcourt to train Nigerians on the technical aspects of its operations and boost local content in the energy service sector.

Umoru said the French Development Agencies (AFD) and Proparco have continued to support Nigeria’s development by funding sustainable projects in Nigeria.

“Business France supports the establishment of French Companies in Nigeria by organizing various missions cutting across multiple sectors, among others,” he stated.

According to him, the 2024 French Week aims to celebrate the impact of the French presence in Nigeria while highlighting the impact and collaborations made by French and Nigerian companies.

Umoru said the 2024 French Week is organised by the Franco-Nigerian Chamber of Commerce and Industry under the patronage of the French Embassy and Consulate in Nigeria.

He noted that the 2024 event lined up has been carefully put together to project the Franco-Nigerian business relations with a high-level business forum with the theme: ‘Enhancing France-Nigeria Relations Through Sustainable Investments and Partnerships’, and tagged: ‘A Tech Startup conference and pitch session in partnership with French Tech Lagos, A cultural evening, among others’.