Trade volume between Nigeria and France is worth 5billion euros (N108.5trn), French Ambassador to Nigeria, Denys Gauer has revealed.
Speaking at a ceremony in Abuja to mark Bastille Day (French National Day), the ambassador said there was trade imbalance between Abuja and Paris in favour of the former. Out of the 5billion Euros trade value, France exports only 1.5billion Euros worth of goods and services to Nigeria. Gauer said 75% of France’s imports from Nigeria is petroleum.
According to him, more French companies are encouraged to come invest in Nigeria, even as old companies like Peugeot Automobile are being rejuvenated for better performance. “We encourage French companies to come do long term business. We’ve been working hand in hand,” he stressed. He said Nigeria could step up the trade imbalance if the country’s business tycoons like Aliko Dangote would go invest in France.
Gauer said Paris’ cooperation with Abuja transcends economy as military support has been big. He said following the security summit in May last year, Nigeria’s Francophone neighbours have demonstrated greater commitment to the fight against Boko Haram insurgency.
France President Francois Hollande hosted the summit which brought together Nigeria’s former President Goodluck Jonathan and his counterparts from Benin, Cameroon, Niger and Chad. The summit agreed to share intelligence and carry out a “global and regional action plan” against Boko Haram. He saluted Nigerians and President Muhammadu Buhari for the country’s successful power transition.
Bastille Day is a day of celebration of French culture. Many large-scale public events are held including a military parade in Paris, as well as communal meals, dances, parties and fireworks
