Nigeria-France Trade Hits N18.56trn as Tinubu Seeks More Jobs, Investment
Trade between Nigeria and France has risen to N18.56 trillion since President Bola Ahmed Tinubu assumed office, with French investments also increasing to $233.22 million, according to figures presented by the Nigerian government.
The figures represent a sharp increase from N4.71 trillion recorded between 2020 and 2022, with investment rising from $100.76 million during the same period to $233.22 million between 2023 and 2025.
The development comes amid renewed efforts by Nigeria and France to deepen economic cooperation, with President Tinubu calling for stronger focus on investments capable of creating jobs, expanding industries and developing infrastructure.
At the 10th France-Nigeria Business Council meeting, Tinubu said the bilateral relationship had moved beyond diplomatic dialogue into what he described as “serious economic execution.”
“We are ready for investment that builds, capital that produces, and an enterprise that creates jobs,” the President said.
He urged Nigerian and French businesses to translate the growing relationship into tangible economic opportunities, including factories, hotels, ports, energy projects, technology platforms and agricultural value chains.
The meeting brought together prominent Nigerian and French business leaders, including Aliko Dangote, Abdul Samad Rabiu, Tony Elumelu, Wale Tinubu, Kola Karim, Patrick Pouyanné of TotalEnergies, Rodolphe Saadé of CMA CGM, and representatives of Danone and Accor.
A major development at the meeting was the agreement between Accor and Shoreline Group to establish Nigeria’s first national hotel platform, which the Presidency described as a sign of growing confidence in the country’s hospitality, tourism and investment sectors.
The economic relationship has also expanded into Nigeria’s creative and digital economy.
During his recent engagement in Paris, Tinubu met French businessman Vincent Bolloré, whose group has interests spanning Canal+, MultiChoice and Universal Music Group.
According to the Presidency, the Bolloré Group confirmed plans to deepen the localisation of its operations in Nigeria across film, entertainment, fibre-optic infrastructure and related sectors.
The group cited the global success of Nollywood and Afrobeats as factors supporting increased investment in Nigeria’s creative economy.
French President Emmanuel Macron has also maintained high-level engagement with Tinubu. On September 18, Macron hosted the Nigerian President for a private dinner at the Élysée Palace, with both sides reaffirming their commitment to strengthening bilateral cooperation.
France’s Ministry for Europe and Foreign Affairs describes Nigeria as France’s leading trading partner in sub-Saharan Africa. French companies operating in Nigeria are active in sectors including energy, pharmaceuticals, insurance, agribusiness, shipping and hospitality, with about 100 French companies employing approximately 10,000 people directly in the country.
Official French trade data, however, shows that bilateral goods trade remains heavily influenced by the petroleum sector. In 2025, France-Nigeria goods trade stood at €4.7 billion, down 5.7 per cent from the previous year, largely due to changes in Nigeria’s petroleum refining sector and the impact of the Dangote refinery.
The French government said Nigeria nevertheless retained its position as France’s largest trading partner in sub-Saharan Africa in 2025.
For the Tinubu administration, the challenge is increasingly shifting from attracting investment to ensuring that capital inflows translate into productive activity, employment and wider economic opportunities.