30 French Firms Plan to Invest in Nigeria

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By Modupe Gbadeyanka

No fewer than 30 French companies have indicated their interest to invest in the Nigerian economy as a result of the huge market the country offers.

Executive Vice President of ‎Bolloré Africa Logistics, Mr Philippe Labonne, who led the consortium of the French firms to the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku, in Abuja on Monday, said they found Nigeria a good place to put their money.

Mr Labonne further said the recent growth in the country’s economy as well as stability in the foreign exchange market was enough to lure them to Nigeria.

He listed the key sectors to invest in to include banking, infrastructure, renewable energy and youth empowerment.

“We are here to access the investment environment in Nigeria to enable us take advantage of Nigeria’s investment opportunities.

“We have about 30 companies in this delegation in sectors such as infrastructure, services, agriculture and banking and the purpose of this meeting is to identify key sectors where we can invest.

“We are interested in many areas such as energy, agriculture, services, especially toward youths and we will identify other areas subsequently,” Mr Labonne told the NIPC boss yesterday.

In her remarks, Ms Sadiku thanked the delegation for their interest in the Nigerian economy and assured them of adequate government’s support.

She said Nigeria remains a top destination of capital inflows in the African continent and said they will not regret their decision to put their money into the nation’s economy.

Ms Sadiku said the Nigerian government will continue to make the environment friendly to the business community.

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