Nigeria has made a compelling case to French investors, spotlighting Nigeria’s ambitious economic reforms, dynamic market potential, and investor-friendly environment as part of the administration’s push to attract sustained foreign direct investment.
Minister Of Information and National orientation Mohammed Idris at a meeting in Paris highlighted Nigeria’s commitment to fostering deeper economic ties with France while speaking at the Nigeria Business Forum on Thursday. The event, which was attended by over 200 French companies in 2023.
He expressed appreciation to longstanding French partners operating in Nigeria, including TotalEnergies, Lafarge, Peugeot, Danone, Alstom, Schneider Electric, among others, for their contributions across key sectors such as energy, infrastructure, agriculture, healthcare, and manufacturing.
The minister shared with the French business forum some of the key reforms Initiated by the Government which he says are already yielding positives including the Unification and stabilization of the foreign exchange regime, phasing out of fuel subsidies to curb leakages, and boost development funding and cost-reflective electricity tariffs to ensure sustainability.
MUST READ:Nigeria’s Information Minister Idris visits BBC in London
Others include tax reforms to promote transparency and ease of doing business, legislative and fiscal measures to support private-sector-led growth, trade facilitation through the National Single Window, and digital reforms among others.
He assured investors of a well-regulated, rule-of-law-based economy, supported by strong institutions such as the Central Bank of Nigeria (CBN), the Nigerian Investment Promotion Commission (NIPC), the Securities and Exchange Commission (SEC), and the Federal Competition and Consumer Protection Commission (FCCPC).
The Minister also highlighted the expansion of Nigerian banks into Europe, including new offices in Paris, and projected increased Nigerian presence in France across creative industries, media, and technology.
While in Paris, the Minister will also hold bilateral meetings with leading French media and cultural institutions .
