To support government’s current diversification drive and mitigate the impact of oil price, the French government is increasing its agribusiness ties with Nigeria. Recently, the French government established the Franco-Nigerian Business club to boost business relations between both countries.
President Macron’s visit to Nigeria last month was indeed another step towards greater collaboration and support between both countries.
Agreements worth about $475m were signed and witnessed by both presidents which include Urban Mobility Improvement Programme, sustainable water supply and reforestation among others.
The long-term benefit expected is a dramatic shift from bilateral trade characterised by majorly petroleum products to one where other sectors, particularly the agricultural and creative sectors.
Following the President Macron’s visit, Friends of Nigeria (FON) a French-based organisation has also announced its plan to launch an entrepreneurship support program for SMEs in Nigeria, which will be championed majorly by Nigerian entrepreneurs running successful businesses in Europe.