In a strong bid to boost foreign direct investment, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, presented the country’s significant economic reforms to French investors at the Nigeria Business Forum in Paris on Thursday, April 10, 2025.
The forum, organized by Business France, was attended by over 200 French companies, underscoring the growing economic ties between the two nations.
Idris showcased Nigeria’s reform agenda under President Bola Ahmed Tinubu’s leadership, emphasizing initiatives aimed at transforming the economy into a more competitive, transparent, and investor-friendly environment.
He pointed out that the ongoing reforms are positioning Nigeria as the gateway to Africa’s expanding consumer market under the African Continental Free Trade Area (AfCFTA).
Among the key reforms outlined were the unification of the foreign exchange regime, the gradual phasing out of fuel subsidies, the adjustment of electricity tariffs for sustainability, and various tax reforms aimed at simplifying the business climate. These reforms are intended to attract sustained private-sector growth and enhance Nigeria’s economic stability.
The Minister also highlighted Nigeria’s unique investment appeal, including its status as Africa’s largest economy, its youthful and growing population of over 220 million people, and more than two decades of uninterrupted democratic governance.
Idris assured investors of a stable, law-based economy, supported by strong institutions such as the Central Bank of Nigeria (CBN), Nigerian Investment Promotion Commission (NIPC), and Securities and Exchange Commission (SEC).
Idris also noted Nigeria’s impressive 3.84% GDP growth in Q1 2024, which has helped reverse fiscal challenges, significantly reduce debt servicing costs, and increase national revenue. He outlined several government initiatives, including the Renewed Hope Infrastructure Development Fund (RHIDF) and the Nigerian Consumer Credit Corporation (CrediCorp), designed to catalyze private sector investments in sectors such as infrastructure, healthcare, and real estate.
READ ALSO: FG Boasts of Economic Turnaround as Food Prices Drop, Exchange Rates Stabilize
Additionally, the Minister invited French agribusinesses, particularly in the livestock sector, to explore opportunities in Nigeria’s newly established Ministry for Livestock Development. He highlighted Danone’s global leadership in dairy products as a model for deeper collaboration in the sector.
Minister Idris concluded by reinforcing Nigeria’s unwavering commitment to reform, echoing President Tinubu’s call for optimism and courage in shaping the nation’s future. He also engaged with French media and cultural institutions to foster greater Nigeria-France cooperation in information and broadcasting.
The Minister’s presence in Paris signals Nigeria’s determination to foster stronger economic and cultural ties with France, and to encourage investment that will support the country’s long-term growth objectives.