The French government has reaffirmed its strong commitment to strengthening business relationships with Nigerian companies, with officials vowing to maintain momentum in bilateral economic cooperation. This pledge came during the business forum of the 2025 French Week in Lagos, organized by the Franco-Nigeria Chamber of Commerce and Industry (FNCCI).
Strengthening Economic Bridges Between Nations
Laurent Favier, the Consul General of France in Lagos, declared that France remains dedicated to doing business with Nigeria during his address at the weekend event. He emphasized that energy, agriculture, technology, finance, and services form the foundation of resilient value chains between the two countries.
Favier encouraged all delegates attending the forum to move beyond theoretical discussions and pursue actionable business-to-business (B2B) or business-to-government (B2G) engagements that can be implemented in the near future. He described the forum as probably the climax of French Week and an ideal opportunity to transform dialogue into concrete partnerships while inspiring minds for future cooperation.
Growing Cross-Border Investments
The French diplomat highlighted significant progress in financial sector integration, noting that Nigeria's four largest financial institutions - Access Bank, Zenith Bank, UBA, and First Bank of Nigeria - have already established presence in Paris. He emphasized the importance of this development, stating that having banking institutions in place enables the launching of projects from Paris to Nigeria seamlessly.
Beyond banking, Favier observed growing interest from both French and Nigerian companies in agriculture, technology, and creative industries. "This is brand new," he noted. "It means that our bilateral economic ties are increasing, and it also means that there is a dynamic drive toward a more balanced relationship between our two countries."
The France-Nigeria Business Council plays a crucial role in facilitating cross-investment, according to Favier. Together with what he called "the team in France," they support the establishment of French companies in Nigeria while also assisting Nigerian enterprises to settle in France through sectoral missions and business programs that connect French businesses with Nigerian opportunities and vice versa.
Lagos as Strategic Economic Hub
Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade and Investment in Lagos, stated that the event's theme captures the essence of shared ambition to transform commerce into collaboration, trade into trust, and investment into inclusive growth.
She highlighted Lagos's economic significance, noting that with a GDP of approximately $259 billion for Purchasing Power Parity (PPP), Lagos ranks among Africa's largest economies, contributing more than 30% of Nigeria's total GDP. She described Lagos as a vibrant, youthful, and globally connected mega-center of trade, technology, and services.
For French and Nigerian business interests, Lagos State offers three strategic advantages:
- Scale and dynamism
- Access to a market of over 200 million Nigerians
- Gateway to the broader West African region
Ambrose-Medebem outlined the government's clear vision to make Lagos State a model for sustainable, innovation-driven growth. She pointed to the dynamic Lagos startup scene, which spans FinTech, AI, health tech, and digital agriculture, describing it as entrepreneurial, youthful, and ambitious.
"For French tech firms, investors and incubators, the opportunity is clear," she stated. "Partner with Lagos innovators to co-create solutions for Africa and the world." She emphasized the Franco-Nigerian chamber's pivotal role in connecting French accelerators with Lagos hubs and venture capital with startups across both nations, proposing the development of a "France-Lagos Innovation Corridor."
Building on Established Foundations
Aigboje Aig-Imoukhuede, President of the France-Nigeria Business Council, recalled that when President Emmanuel Macron established the council in 2019, his vision was clear: to move the two nations beyond diplomacy into practical economic cooperation led by the private sector.
Represented by Innocent Ike, Group Managing Director and CEO of Access Holdings Plc, Aig-Imoukhuede noted that the council has evolved into a living bridge between France and Nigeria, and indeed Africa. The council has advanced partnerships across energy, infrastructure, finance, and culture, reflecting shared values of innovation, sustainability, and resolution.
One of the early collaborations now underway is the Agora project, a forward-looking platform co-developed by France and African partners to reimagine urban sustainability.
Looking ahead, Favier revealed that both nations are already working on the next ministerial visit with a substantial delegation in 2026, demonstrating continued commitment to deepening economic collaboration. The collective objective remains identifying bankable projects, facilitating financial pipelines, creating partnerships, generating jobs, transferring skills, and creating shared prosperity between France and Nigeria.
