Nigeria Open For Business, Tinubu Tells French Investors

President Bola Tinubu has invited French investors to explore opportunities in Nigeria, stating that his administration is committed to creating an enabling environment for businesses to thrive.

Speaking during a joint press briefing with French President Emmanuel Macron at the Élysée Palace on Thursday, Tinubu highlighted ongoing efforts to enhance security and improve the country’s investment climate.

“We’ve been working on stabilising 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.”

The president assured potential investors of a business-friendly economy. “We assure you of a free market economy; easy in, easy out; no hindrance,” he said.

The Nigerian leader emphasised the country’s youthful population as a major asset, describing them as skilled, educated and ready to contribute to economic development.

“We have a vibrant youth population that is well educated, skilled, and ready to be trained for the development of our economy,” he said. “This, I will emphasise, is why we need the French experts and investors to do more in this area to help develop our youth population.”

On economic diversification, Tinubu said Nigeria was reducing its reliance on fossil fuels and expressed confidence in France’s ability to support this transition.

“We have the potential to diversify our economy from fossil fuels,” he said.

The president cited Lagos State’s efforts to harness marine resources as an example of Nigeria’s economic potential.

“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,” he said.

Tinubu thanked the French government for its support of Nigerian businesses in France, adding that Nigeria was creating a similarly welcoming environment for French investors, particularly in food security.

“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.

While Nigeria remains Africa’s leading oil producer and boasts of a thriving film industry, the president acknowledged the challenges of insecurity and economic hardship, which have left millions in poverty.

Tinubu expressed the willingness to partner with France to address these issues.

“Nigeria is ready to partner with France so that we will have a very robust security operation that will stop migration,” he said, stressing the importance of a peaceful environment for businesses to prosper.

On defence collaboration, President Tinubu commended Macron for his commitment.

“On the defense industry,” he said, “I really appreciate what you shared with us and the promise for the future.”