France Vows to Foster Economic, Investment Ties With Nigeria

By Aduragbemi Omiyale

The Consul General of France in Lagos, Ms Laurence Monmayrant, has promised that her country would continue to foster economic and investment ties with Nigeria.

The diplomat gave this assurance during the closing gong ceremony for the Franco-Nigerian Chamber of Commerce and Industry in her honour in Lagos on Tuesday.

Speaking at the event at the Nigerian Exchange (NGX) Limited, she said France was also looking forward to working with the bourse to have more brands listed on its platform in the coming year.

Ms Monmayrant stated that the Franco-Nigeria Chamber of Commerce was pleased with the stock exchange’s role in sustainability and finance, which corresponds with the chamber’s values.

“We are very interested in the work that we are doing because the stock exchange is a catalyst of attracting investments to Nigeria, and this is really something we are working on also.

“Currently, the Franco-Nigerian chamber has over 400 members and among them are 100 French companies and also Nigerian companies having a strong interest in France, and this is really our job to foster these economic ties between France and Nigeria.

“France may not be the first country in mind when it comes to business and investments in Nigeria, but we have made a lot of progress and achievements.

“Our President, Emmanuel Macron, values the relationship with Nigeria. We have nearly $10 billion invested from French companies in Nigeria and have grown over the last few years. Nigeria currently attracts 60 per cent of French foreign direct investments (FDIs) in West Africa”.

“We want to continue to work on this, and we think that French companies will continue to show interest in Nigeria,” the envoy said.

In his remarks, the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka, said that the exchange was particularly interested in forging a relationship around the 100 companies that are French companies operating in Nigeria as the NGX is known to house over 153 listed companies.

Mr Chiemeka noted that the NGX sees itself as the African hub for corporates seeking to raise capital and for investors looking for investment instruments to help grow their wealth.

He further thanked the French delegation and reiterated that the exchange would continue to promote an enabling platform where corporates and individuals can meet their objectives.