Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Great100000: 6:35pm On Nov 29 |
President Bola Tinubu’s visit to France reaffirmed Nigeria’s commitment to deepening bilateral ties and attracting investment in critical economic sectors.
This high-profile visit comes as 2024 half-year foreign trade data highlights France as Nigeria’s sixth-largest trading partner, with total trade volumes at N4.4 trillion.
Notably, exports to France stood at N3.4 trillion, making it Nigeria’s largest single-country export destination and second only to Africa as a region.
In a high-profile meeting at the historic Palais des L’Elysée, President Tinubu and his French counterpart, Emmanuel Macron, explored avenues to strengthen their economic and diplomatic ties.
Tinubu outlined an ambitious agenda focusing on key areas of collaboration, aimed at unlocking Nigeria’s untapped potential and fostering mutual prosperity.
Nairametrics research highlights the ten key areas of economic partnership President Tinubu sought to strengthen during his visit to France, aimed at fostering mutual growth and unlocking Nigeria’s vast economic potential.
1. Agricultural Development and Food Security
President Tinubu called for French investment to bolster Nigeria’s agricultural productivity, emphasizing food security as a top priority. He noted:
“The French-Nigeria Business Forum is doing a lot already, but we need to do more on food security. We cannot help but invest in another’s country. It is our responsibility to put together a food security program for the private sector to come and invest in the country.”
Tinubu highlighted Nigeria’s flourishing financial sector as a catalyst for foreign investments in agriculture. He assured:
“Nigeria’s financial sector is evolving and flourishing. We are also creating grounds for investment in Nigeria’s economy for French nationals, especially in the area of food security.”
Nigeria’s financial services sector recorded a GDP growth rate of 30.83% in the third quarter of 2024 boosting overall GDP growth rate to 3.46%
2. Solid Minerals Exploration
The President invited French investors to explore opportunities in Nigeria’s underdeveloped solid minerals sector. He emphasized de-risking the sector for easier investment:
“We should de-risk the opportunities in the solid minerals. We have the potentials and we have agreed on a deeper and deeper relationship.”
An agreement was signed during the visit, signaling increased French commitment to the sector.
Under President Bola Tinubu’s Renewed Hope Agenda, Nigeria’s mining sector is set to become a key driver of economic diversification and growth.
- The administration aims to modernize the Nigerian Minerals and Mining Act to attract global investors, ensure environmental sustainability, and improve community welfare.
- Key initiatives include developing infrastructure to support mining operations, combating illegal mining through a dedicated Mining Marshal Corps, and fostering human capital development through training and research programs.
- To boost foreign investment, incentives like tax waivers and security reforms have been introduced, alongside efforts to mandate local mineral processing and revoke dormant licenses.
3. Youth Development and Training
Tinubu stressed the importance of equipping Nigeria’s youthful population with skills through French-backed training initiatives. He stated:
“I can assure you that Nigeria is open for business. We have a vibrant youth population that is educated and ready to be trained in various areas of entrepreneurship and development.”
Tinubu requested specific programs aimed at building the entrepreneurial capacities of Nigerian youths.
4. Energy Transition
The President urged French companies to collaborate with Nigeria in its drive toward cleaner energy solutions while maximizing existing resources.
- While not directly quoted in this sector, Tinubu’s broader remarks about foreign investments in critical areas aligned with Nigeria’s energy priorities.
- Under President Bola Tinubu’s Renewed Hope Agenda, Nigeria’s energy transition plan aims to achieve net-zero emissions by 2060 while ensuring economic growth and energy access.
- The strategy focuses on decarbonizing key sectors: power, cooking, oil and gas, transport, and industry.
- Initiatives include increasing renewable energy contributions, promoting clean cooking technologies, and adopting natural gas as a transitional fuel.
The government is also investing in infrastructure, such as compressed natural gas (CNG) stations, to provide affordable alternatives to petrol and reduce transportation costs. International partnerships, like the agreement with Germany on wind energy development, support these efforts.
5. Blue Economy and Fisheries
Tinubu highlighted the opportunities in Nigeria’s untapped blue economy, particularly in fisheries, citing Lagos as an example of effective resource management:
“In Lagos, we have tamed the Atlantic Ocean. For us, fishery is an important aspect of investment.”
He encouraged French investors to explore these prospects, assuring:
“We want to assure the French investment community that Nigeria is open for business. It shall be easy in, and easy out.”
Under President Bola Tinubu’s Renewed Hope Agenda, Nigeria is prioritizing the development of its blue economy to stimulate economic growth and sustainability.
- The administration is focusing on enhancing maritime security through initiatives like the Deep Blue Project, which has significantly reduced piracy in Nigerian waters and the Gulf of Guinea.
- Collaborations with regional partners aim to address maritime insecurity comprehensively.
6. Security Cooperation
Acknowledging global security challenges, Tinubu called for collaborative measures to combat terrorism and reduce migration pressures. He stated:
“Nigeria is a partner in progress. We are ready to partner with France so that we can have security operations that will stop the challenge of migration.”
7. Education and Child Welfare
Tinubu emphasized the importance of child education and welfare as a cornerstone for national development. He noted:
“A starved nation will not care about weather or environment, and in the 21st century, no child should go to bed hungry.”
Proposing solutions, he said:
“If an African child is given a glass of milk in a class, there will be no problem in getting him to return and stay in school to learn. The more educated the children are, the better it is for us.”
8. Defense and Technology
In discussions on defense, Tinubu sought advanced technology solutions to address security threats and enhance Nigeria’s defense capabilities. He emphasized the shared responsibility of governments to ensure regional stability.
9. Support for Creative Industries
President Macron praised Nigeria’s creative industries as a growth engine and pledged France’s support. Tinubu encouraged deeper collaboration in promoting Nigerian art, music, and film globally, as part of broader youth-focused initiatives.
10. Trade and Investment Ease
Tinubu reaffirmed Nigeria’s openness to business and reassured potential French investors of a friendly operating environment:
“We are working on stability and we are getting closer and closer, but we can do better and better.”
He emphasized ongoing reforms to simplify trade and encourage foreign direct investment, stating:
“I can assure you that Nigeria is open for business.”
Macron’s Commitment to Strengthened Ties
President Emmanuel Macron described Tinubu’s visit as a landmark in bilateral relations, applauding his leadership and vision:
“You are the great leader of the great country in Africa. We appreciate your visionary leadership and energy in transforming the economy of your country.”
Macron pledged to expand cooperation, especially in solid minerals and youth development, emphasizing that global challenges require collaborative solutions:
“We have confidence that you, Mr. President, will reinforce our relationship with Nigeria, and it will cover the West Coast region, with ECOWAS playing the leading role.”
Source: https://nairametrics.com/2024/11/29/10-key-economic-priorities-tinubu-seeks-from-france-during-paris-visit/ 15 Likes 1 Share |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by trutharena: 6:36pm On Nov 29 |
We thank Mr. President for the effort and we wish him success. 32 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by warissszx: 6:47pm On Nov 29 |
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Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Salewa97: 6:50pm On Nov 29 |
Toh France is Nigeria's 6th largest trading partner globally. The partnership is mutually beneficial. 25 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by festacman(m): 6:50pm On Nov 29 |
France that could not develop the economy of Francophone countries will not do more than it is currently doing.
Mr. President, the best thing to do is to DELIBERATELY develop policy frameworks, specify opportunities and create vital incentives to encourage existing and potential local investors to put money into the various sectors of the economy.
Only Nigerians will GENUINELY invest Nigeria, plough profit back and create more wealth. Challenge them vital policies, incentives and other ways of protection and encouragement. 16 Likes 2 Shares |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by mytime24(f): 7:13pm On Nov 29 |
11. borrowing 4 Likes 1 Share |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by DesChyko: 7:14pm On Nov 29 |
How much is France doing for the rest of the African nations that speak their language?
Just add that country to the list of countries taxpayers monies are wasted to visit and let's move on.
Argentina's president met inflation at 211%. In just a year, with home-grown policies, forced it down to 2.7%. Almost every month in 2024, Argentina records budget surplus. Yet some junketeer-in-chief thinks it's by PR and photo ops. That's why they hate social media. They can't fool everyone.
It's not by monkeys forcefully taking over a vehicle. It is how they would manage to drive it that counts. 13 Likes 3 Shares |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Copelag: 7:14pm On Nov 29 |
The only reason they went there is to collect loan 3 Likes 2 Shares |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Olokolobo(f): 7:14pm On Nov 29 |
Yinmu, kids stuff. Every sane Nigerians know the eeediot smelly mouth is there to recharge his battery. Death is the end of all things. 2 Likes 2 Shares |
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Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Anither563: 7:15pm On Nov 29 |
Awesome!! 2 Likes |
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Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by spinna: 7:15pm On Nov 29 |
Jaga |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by givedemwotowoto: 7:15pm On Nov 29 |
These people want to finish Nigerians with propaganda.
We don’t need to hear about the audio priorities, let’s see solutions on the streets, like cheaper fuel and foodstuffs prices. 1 Like 1 Share |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Kionrae: 7:15pm On Nov 29 |
I’m personally bothered about the amount budgeted for that large entourage of people that accompanied Tinubu the chronic failure and idiot, to France at the expense of the masses Bunch of retarded bastards along with their supporters |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Yankee101: 7:16pm On Nov 29 |
France is predatory on African countries 1 Like 2 Shares |
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Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Angelfrost(m): 7:16pm On Nov 29 |
Okay... Very good!
So, in conclusion....
How much are we BORROWING from France?!! 2 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Meti99(m): 7:16pm On Nov 29 |
Mr President, invite the forum of diasporans who are ready to invest in Nigeria.. They can form conglomerates. We have multi-millionaires in dollars across the globe. We have them in large numbers. Let's explore that area too.
May Tinubu succeed 5 Likes 1 Share |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by tundegan: 7:17pm On Nov 29 |
Tinubu is a president that understands the game. 23 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by ClearFlair: 7:18pm On Nov 29 |
Countries are keeping their distance but Nigeria is getting closer 2 Likes 1 Share |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by ClassicMan202(m): 7:18pm On Nov 29 |
France that has not developed Niger Republic after how many years, despite plundering their natural resources.
You want dem to come and develop your country.
Just tell us you want to collect loan. 1 Like |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by ClearFlair: 7:18pm On Nov 29 |
tundegan: Tinubu is a president that understands the game. Your life is a game? 3 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Bobloco: 7:18pm On Nov 29 |
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Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by Urgent1Million: 7:19pm On Nov 29 |
Everything na wash!! France is the worst country to seek help from. |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by MondayOmoAdugbo(m): 7:20pm On Nov 29 |
Help help help |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by muykem: 7:23pm On Nov 29 |
Tinubu will not have opposition in 2027. The man knows what he is doing. 2 Likes |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by ebukal67x: 7:23pm On Nov 29 |
Good to see the media finally acknowledging the importance of this visit. 1 Like |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by lexy2014: 7:24pm On Nov 29 |
festacman: France that could not develop the economy of Francophone countries will not do more than it is currently doing.
Mr. President, the best thing to do is to DELIBERATELY develop policy frameworks, specify opportunities and create vital incentives to encourage existing and potential local investors to put money into the various sectors of the economy.
Only Nigerians will GENUINELY invest Nigeria, plough profit back and create more wealth. Challenge them vital policies, incentives and other ways of protection and encouragement. Tinubu is not interested in the above suggestions. its all about "emilokan"...jamboree |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by lexy2014: 7:25pm On Nov 29 |
tundegan: Tinubu is a president that understands the game. what game? |
Re: Paris Visit: 10 Key Economic Priorities Tinubu Seeks From France by lexy2014: 7:25pm On Nov 29 |
ebukal67x: Good to see the media finally acknowledging the importance of this visit. festacman: France that could not develop the economy of Francophone countries will not do more than it is currently doing.
Mr. President, the best thing to do is to DELIBERATELY develop policy frameworks, specify opportunities and create vital incentives to encourage existing and potential local investors to put money into the various sectors of the economy.
Only Nigerians will GENUINELY invest Nigeria, plough profit back and create more wealth. Challenge them vital policies, incentives and other ways of protection and encouragement. |