Franco-Nigeria: Shettima, Others Stress Need for Sustainable Investment Mind-set Through Partnership

Sunday Okobi

Vice President Kashim Shettima, yesterday, stressed the need for sustainable investment mind-set that would address climate change and energy transition through partnerships that benefitted the economy, environment, and society.
Shettima also disclosed that Nigeria was reforming its regulatory framework to attract foreign direct investment, in alignment with the African Continental Free Trade Area (AfCFTA) agreement to enhance regional trade.
He spoke yesterday in Lagos at the business forum of the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) 2024 French Week.
The vice president said the relationship between Nigeria and France was highlighted as one of cooperation and mutual understanding, with a focus on economic ties that were essential for both nations.
Shettima, who was represented by Technical Adviser to the President on Foreign Direct Investment (FDI), Office of the Vice President (OVP), Princess Zahrah Mustapha-Audu, said the week aimed to enhance collaboration through sustainable investments, particularly in infrastructure, renewable energy, and agriculture.
According to him, France is identified as one of Nigeria’s largest trading partners, with French businesses playing significant roles in various sectors, including energy and finance.
He said Nigeria’s large population, growing middle class, and abundant resources presented significant opportunities for French businesses looking to expand.
The vice president reaffirmed Nigeria’s commitment to a vibrant partnership focused on people, planet, and prosperity, aimed at beneficial collaboration for future generations.
He said the commitment to reform and transparency in Nigeria was also aimed at creating a conducive environment for foreign investment, particularly from France, “which is seen as a key partner in achieving mutual goals.”
In his remarks, President of FNCCI, Guillaume Niarfeix, highlighted the collaboration between France and Nigeria across various sectors, particularly focusing on energy, infrastructure, and technology.
Niarfeix emphasised the importance of business-to-business and business-to-government partnerships between French and Nigerian companies, showcasing mutual benefits.
According to him, the Agence Française de Développement has invested significantly in Nigeria, and financed numerous projects that support the Nigerian economy.
He said the French Chamber of Commerce in Nigeria, with its 400 members, played a crucial role in facilitating business opportunities and promoting French investments in Nigeria.
Niarfeix expressed optimism about the future of France-Nigeria relations, indicating that the partnership will continue to be strengthened.
President, France-Nigeria Business Council, Aigboje Aig-Imoukhuede, added that the annual event celebrated the strong and dynamic partnership between France and Nigeria, which must continue to be watered, nurtured, strengthened, and elevated.
Aig-Imoukhuede said the two countries shared a long-standing relationship built on continuous collaboration, shared values, and shared passions.
He stated that the partnership between both countries had become even more essential, offering them the chance to drive economic progress and strengthen connections, “Not just for our two countries, but, indeed, our regions and the entire world.”