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Government of Nigeria reposted
Mohammed Idris, FNIPR
@HMMohammedIdris
ADDRESS BY HIS EXCELLENCY, ASIWAJU BOLA AHMED TINUBU, GCFR PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA AT THE NIGERIA-FRANCE BUSINESS FORUM PARIS, 29 NOVEMBER, 2024
I am extremely pleased to address this gathering of important business leaders.
This event, in both symbol and substance, stands as strong evidence to the productive cooperation and broad friendship that exists between the French Republic and the Federal Republic of Nigeria.
2.Permit me to use this platform to express my gratitude for the warm reception and hospitality extended to my delegation by the French Government during this state visit. May I also express gratitude to your Government for hosting this France-Nigeria Business Forum.
Indeed, we see France as worthy partner in Nigeria’s effort to build a productive national economy as well as to advance the noble causes of economic development, parity among nations, peace and an end to extremist violence and destructive successionists movements in the West African region.
3.We have serious socio and economic challenges to confront in our region. We seek partners to help combat poverty hunger and lack of growth. What we do not need are actors coming from far and distant places to use the land and people of West Africa as pawns in a game of power and influence unrelated to the welfare and wellbeing of our people.
France can be a positive and genuine factor in creating this new chapter for West Africa. We welcome and seek that productive and healthy role for your nation.
4.This storied and leading Republic in Europe and our large and growing Republic in Africa can do much working together in order to overcome the imbalances of the past to create a better and brighter future for our two nations and for the relationship between our two continents.
ECONOMIC AND COMMERCIAL COOPERATION:
5.Relations between Nigeria and France date back to the Independence era, and these go a long way in shaping the strategic partnership between our two countries.
Trade and investment have been integral to this partnership. As Nigeria has grown and evolved, the texture of the economic cooperation and other relations have also adjusted and accordingly evolved. This flexibility and ability to adapt to emerging political and economic realities is emblematic of a durable relationship based on mutual respect when our interests converge as well as when our interests diverge.
6. This vital business Forum should continue to function in similar spirit. Indeed, the dynamic partnership we already share must be deepened yet constantly refined given the everchanging global environment in which we now exist.
7. Here, I ask your indulgence to allow me to give a few key numbers regarding the Nigerian economy. But most importantly, I want to offer you my vision of economy that Nigeria should and must become not only for the sake of its population of roughly 250 million souls but as a driving force for a new era prosperity and stability throughout the west African region.
We have embarked on key fiscal and monetary policies in order to create a foundation that will allow for greater and more sustained growth in the future. Integral to that future shall be Foreign Direct Investments (FDI).
Already, there are signs that our economy is turning the corner and is starting to positively respond to the reforms thus far enacted.
Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in Q3 2024. This rate is higher than the 2.54% recorded in the same quarter last year and also higher than the 3.19 percent recorded in the prior quarter of this year. Equally, Nigeria's GDP for Q3 2024 stood at N71.13 trillion, with a year-on-year increase of 17.26 per cent from N60.66 trillion in Q3 2023.
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