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Nigeria-France trade volume hits 5.6 billion euros

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Staff writer ▼ | January 22, 2016
Nigeria street
Trade   More than 50 companies from France operating in Nigeria

The volume of bilateral trade between Nigeria and France has hit over 5.6 billion euros, signifying an increase in the number of French companies operating in the country.

This is even as the French government has promised to help Nigeria wade through the present economic challenges with increased symbiotic relationship.

Speaking at a press conference organised by the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), at the French Embassy in Lagos yesterday, ‎the Head of the Regional Economic Department and Economic Counsellor of France’s embassy in Nigeria, Francis Widmer‎, said ‎France would be going for a double in 2016, as more French companies would be coming into country for various investment portofolio.

He said France was looking to increase it tentacles through the Foreign Direct Investment (FDI) approach it has adopted rather than Foreign Portfolio Investment (FPI) approach, which would lead to promotion of more business collaborations between the two countries.

Widmer, said most of the new companies would be looking at agro businesses, and other services as part of supporting the Nigeria government to succceed in her diversification from oil sector.

He said there are over 50 companies from France operating in the country, with more showing interest in doing business with Nigerians, hence the need to encourage business men from both countries.


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