Buhari woos French investors

While in France, President Muhammadu Buhari is taking canvassing more foreign investments into the country by assuring investors in that country and other parts of the globe of his administration’s commitment to provide a suitable business environment that will boost economic activities and create jobs.
The President said on Monday that this informed his decision to face headlong the issue of insecurity within the early days of his government, so as to ensure the safety of all citizens and guarantee investment for both local and foreign investors.
Buhari who addressed a gathering of investors at the Nigeria-France presidential business forum which held at the headquarters of the French Business Confederation in Paris, explained that Nigeria and France had a cordial trade partnership needed to promote a sustainable win-win business relationship.
He recalled the long standing economic ties between the two countries which he said dated back to 1902 when the Compagnie Française de l’Afrique Occidentale set up a training programme in Lagos.
He assured the French business community that his government would rebuild Nigeria into a competitive, virile and productive economy “based on excellence, integrity, transparency, accountability and respect for the rule of law.”
The President said, “It is a positive development that today Nigeria is the largest trading partner with France in Africa. But opportunities abound to greatly increase the current $5bn annual trade volume and I fully agree with President Hollande when he declared in February, 2014 in Abuja that trade volume between both countries should double in four years.”

Read also: Buhari off to Paris for talks

According to him, trade expansion is to cover critical areas such as agriculture, energy, automobile and skill development.
He said, “Today, many French companies are happy to have flourishing businesses in Nigeria, opportunities abound to greatly increase the $5bn annual trade volume between the two countries.”
The President said, “Nigeria is now at a new dawn to chart and reposition its destiny for greatness. We are resolved and firmly determined to consolidate on industrialising Nigeria and diversifying its economy into sectors such as agro-processing, mining, manufacturing, petro-chemicals, food processing and textiles.”
President Buhari told the investors that his government would spare no effort at sustaining Nigeria’s credentials as the number one investment destination in Africa as well as the country with the fourth highest investment returns in the world.
“Nigeria has what it takes to make a breakthrough and there is more to Nigeria than oil. It is a blessed land rich in agricultural and mineral resources coupled with skilled and low-cost labour, large market, robust and competitive private sector,” he added.
The President thanked the President of the Movement of French Entrepreneurs, Mr. Pierre Gattaz and the organisers of the France-Nigeria Business Forum for mobilising the platform.
Earlier in his remarks, Gattaz had indicated the interest of French businessmen in the Nigerian economy, being the biggest in Africa.

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