President Bola Ahmed Tin‑Tinubu hailed the outcomes of the 10th France‑Nigeria Business Council meeting, which took place on the sidelines of the Africa Forward Summit in Nairobi, Kenya. In a State House press release issued on May 12, 2026, the president said the gathering marked a shift from signing memoranda to accelerating concrete investment projects and trade initiatives between the two nations.
The communiqué noted that bilateral trade reached $4.7 billion in 2025, with Nigeria retaining its position as the top destination for French capital in sub‑Saharan Africa. Nigerian Minister of Industry, Trade and Investment Jumoke Oduwole and France’s Minister Delegate for Foreign Trade and Economic Attractiveness Nicolas Forissier co‑chaired the session, which drew senior executives from both markets.
Tinubu singled out the council’s chairman, Aigboje Aig Imoukhuede, for orchestrating a dialogue that convened leading private‑sector players from each country. Among the participants were business magnates Aliko Dangote, Abdul Samad Rabiu, Tony Elumelu and Wale Tinubu, as well as senior representatives of TotalEnergies, CMA CGM, Danone and Accor.
A highlight of the meeting was the signing of a partnership between French hospitality group Accor and the Nigerian Shoreline Group to launch what the parties described as Nigeria’s first national hotel platform. “This is the partnership Nigeria is ready for. We are ready for investment that builds, capital that produces, and enterprise that creates jobs,” President Tinubu said, underscoring the government’s commitment to a business‑friendly climate.
The president added that his administration would sustain reforms aimed at streamlining procedures for investors, enhancing legal certainty and expanding access to finance. He said these steps are essential to convert the “promising agreements” discussed in Nairobi into tangible projects that generate employment and diversify the economy.
Analysts note that the renewed focus on implementation reflects a broader trend in Nigeria’s foreign‑investment strategy, which seeks to leverage its large consumer base and strategic location while addressing long‑standing concerns over regulatory bottlenecks. France, for its part, is looking to deepen its footprint in West Africa, especially in sectors such as energy, logistics, agribusiness and tourism, where French firms already have a strong presence.
The next round of the France‑Nigeria Business Council is slated for later this year, with expectations that several of the deals announced in Nairobi will progress to binding contracts. Observers will watch closely how quickly the announced $4.7 billion trade flow translates into new projects, especially in infrastructure, manufacturing and services, and whether the partnership can serve as a model for other African‑European trade platforms.
By turning dialogue into action, both governments hope to sustain momentum and cement a partnership that can drive inclusive growth across the continent.
