President Bola Tinubu has told French investors that the country is open for business, saying his government is creating an enabling environment for them to thrive.
Tinubu said this on Thursday during a joint briefing with the French President Emmanuel Macron at the Elysee Palace.
“We’ve been working on stabilizing the security system in Nigeria and we are getting closer and closer,” Tinubu said. “We are doing better now in the area of security. I can assure all the investors that Nigeria is open for business.”
“We assure you of a free market economy; easy in, easy out; no hindrance,” Tinubu said.
The Nigerian president underscored his country’s youth who are skilled, educated, and ready to be trained as part of the reasons French investors should look towards the West African nation.
“We have a vibrant youth population that is well educated, skilled, and ready to be trained for the development of our economy,” Tinubu who is on a three-day visit to France told the gathering.
“This, I will emphasize, is why we need the French experts and investors to do more in this area to help develop our youth population.”
‘We Have the Potential’
He said Nigeria is working on diversifying its economy away from fossil fuels and believes France can play a key role in that move.
“We have the potential to diversify our economy from fossil fuels,” he said.
“In Lagos, for example, we have tamed the Atlantic Ocean so far and we are still promoting marine and blue economy. Fishery is an important aspect of our economic potential,” the 72-year-old said.
President Tinubu thanked the French government for providing stability for Nigerian businesses in the European country.
“Thank you for creating a conducive environment for them to flourish and we are creating the same ground for investment in the Nigerian economy for the French nationality in the area of food security,” Tinubu said.
‘Nigeria is Ready’
Nigeria is Africa’s leading oil producer and has a robust film industry, dubbed “Nollywood”.
But insecurity and other challenges have left millions of Nigerians living below the poverty line with inflation figures reaching new highs.
Tinubu acknowledged the country still needs to do more and wants to work with France in that regard.
“Nigeria is ready to partner with France so that we will have a very robust security operation that will stop migration,” he added, re-echoing the need for a peaceful environment for businesses to flourish.
“On the defense industry,” he told Macron, “I really appreciate what you shared with us and the promise for the future”.
Macron, 46, who has sought a “renewal” between Paris and Africa since his 2017 election, said his country will “continue to invest” in Nigeria, at a time when France’s influence on the continent is waning following military coups and changing attitudes.
Tinubu’s visit is the first official state visit by a Nigerian leader in more than two decades.
