A new impetus to Franco-Nigerian economic relationship [fr]
Olusegun Aganga, Nigeria’s Minister of Industry, Trade and Investment and Nicole Bricq, France’s Minister of Foreign Trade.
Photo © Patrick Védrune, General Secretariat of the economic and financial departments
On the occasion of a private interview and a working meeting with representatives of French companies, Nicole Bricq and Olusegun Aganga expressed their desire to boost economic and trade exchanges between France and Nigeria. With 160 million people, Nigeria is the second economy in Africa, after South Africa. Since 2006, economic growth is around 6% per year on average. The country aspires to become one of the major emerging countries on the international stage by 2020. Nigeria is already in sub-Saharan Africa, the first economic partner of France (€ 5.1 billion trade in 2012), and our second client (€ 1.3 billion in exports in 2012). The market share of the companies amounted to 3.5%, above our global average. French investors are very active, especially in the oil sector.
Increase our exchanges and consolidate or expand our market share by:
1) Determining one or more major iconic infrastructure projects on which the two countries could work. Our financial system (Coface guarantees, loans from the Emerging Countries Reserve, etc..) can be put to work to achieve it.
2) Encouraging the participation of SMEs. Several business missions will take place this year in the oil and gas and energy sectors, organized by the Franco-Nigerian Chamber of Commerce and industry (Lagos).
3) Instituting a regular state-to-state relationship with the creation (on the proposal of Minister Aganga) of a joint committee for trade and investment, which would be co-chaired by Nicole Bricq on the French side.
Nicole Bricq : "Nigeria is one of the 47 priority countries of my action strategy. I set a goal, that of finding a market share of 5% in the next four years, according to the results we have achieved in the past. Upon my arrival in office, in June 2012, I had entrusted the Franco-Nigerian Chamber of Commerce and Industry in Lagos with the monitoring of this country, in commercial terms. It is now operational.
By the emergence of new large projects, increasing our current export flows (the Nigerian middle class is estimated at 30 million people), with a stronger presence of French SMEs, while preserving the security of people, we will succeed . I will be in Nigeria by the summer to implement the roadmap. "