Nigeria and France Strengthen Economic Ties at Summit

At the Africa Forward Summit in Nairobi, Nigeria and France convened the 10th meeting of the French-Nigerian Business Council (FNBC) on May 12, 2026, to strengthen their economic partnership. The goal is to expand bilateral trade to $4.7 billion by 2025, with Nigeria remaining the largest destination for French investments in Sub-Saharan Africa.

President Bola Tinubu attended the summit, which included a business forum and discussions on youth and creative industries. The FNBC, chaired by Jumoke Oduwol, aims to translate diplomatic goodwill into tangible investments across various sectors.

Recent developments include Access Bank opening a branch in Paris and plans for Zenith Bank to follow suit. The energy sector is also a focus, with TotalEnergies and NNPC making significant investments.

The meeting reflects France's strategy to diversify its economic engagements in Africa, particularly with English-speaking countries, marking a shift in its traditional focus.