Home » News: With €3.53 billion, Nigeria represents 20% of France’s trade in Africa, says Franco-Nigerian Chamber of Commerce and Industry

News: With €3.53 billion, Nigeria represents 20% of France’s trade in Africa, says Franco-Nigerian Chamber of Commerce and Industry

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Franco-Nigerian Chamber

In a significant testament to the robust economic ties between Nigeria and France, the President of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), Usman Mohammed has revealed that Nigeria accounts for about 20 per cent of France’s trade with Sub-Saharan Africa (SSA), amounting to an estimated €3.53 billion.

According to The Guardian, he said that France’s business and economic interest has continued to grow in Nigeria. Nigeria is France’s leading trading partner in SSA and the fourth largest in Africa, behind Morocco, Algeria and Tunisia. Mohammed spoke to journalists about the relationship between France and Nigeria and the significance of the 2023 French week celebration scheduled to take place in Lagos from November 17 to 24.

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Besides, he said the French week starting on November 17th with the global Beaujolais event, would have among it’s events line up, a high-powered business forum with the presence of the French Minister of Foreign Trade and French Nationals Abroad, Olivier Becht and the Minister of Finance and Coordinating Minister of the Economy of Nigeria, Wale Edun. He said there would also be a start-up conference and pitch tournament, a job fair and the first Franco-Nigerian Business awards.

He said the French government through its development agencies are financing various projects across the country in line with Sustainable Goals Agenda (SDG’s).

According to him, late last year; the Agence Française de Développement (AFD) signed a €25 million grant agreement for the Northern Corridor project co-financed by the European Union for power generation, also currently working with the Federal Government of Nigeria to fund the creative sector with about 100 million Euros.

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He said French companies in Nigeria also remained committed to doing business and impacting the environment. “We see brands like Total Energies impact projects covering power, healthcare, education, among others. With huge investment in the upstream sector of the Nigerian economy, Fanmilk (Danone) with huge investments in backward integration for the production of dairy milk for their products and the commissioning of its modern dairy farm in Odeda, Ogun State, Schneider Electric Nigeria is empowering local communities by promoting local sustainability initiatives and educational support, SPIE oil and gas training programmes for young Nigerians in various skill areas, and Access Bank Nigeria now with a functioning office in Paris with initiatives to ensure flow of economic activities between both countries.”

Mohammed also stressed that the efforts and activities of the other economic players like, Business France; leading French business delegations to Nigeria in various sectors for prospection, the Economic Department of the Embassy, and the FNCCI which have supported the growth of French-Nigeria business relations in Nigeria.

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