Nigeria’s Economic Growth: Franco-Nigerian Chamber Leads B2B Delegation

The Open de l’international and B2B event is an exciting platform that brings companies from various industries to network, collaborate, and explore business opportunities. It’s a unique event where Nigerian companies had the chance to participate and interact with French investors and businesses.

We led the Nigerian delegation to the event with the goal of strengthening economic ties and promoting Nigerian industries. Secondly, we want to facilitate business opportunities, and foster positive relationship between the two countries. This initiative has brought mutual benefits to Nigerian companies and their French counterparts, thus enhancing international trade and collaboration.

This event is of great significance for Nigerian companies for several reasons. Firstly, the B2B event provided a valuable opportunity for Nigerian companies to network with potential partners and investors from France. It also allowed Nigerian companies to explore the French market and gain insights into the preferences of French consumers. Moreso, the diverse representation offered Nigerian companies a chance to find potential partners across various industries.

Other significance of this event are:

• cultural exchanges between Nigeria and France.
• Learning best practices, strategies, and market trends.
• Strengthening Franco-Nigerian relations, and
• The chance to visit key tourist destinations in Paris and other cities in France. This added a touch of leisure to the business trip and allowed for a well-rounded experience.

The delegation cover sectors that include; Agribusiness, Insurance, Fintech, Engineering, Renewable Energy, Biotech, among others.

Participating in the event provided Nigerian companies with a platform to showcase their capabilities and foster international business relationships. It also provided them access to a broader market and enhance their brand visibility. The benefits extended beyond immediate business gains, but also included contributing to Nigeria’s economic growth, global reputation, and fostering a positive outlook for international trade and collaboration.

We expect both short-term and long term impacts.

For the short term impacts, we expect Increased trade and investments between France and Nigeria. This will boost Nigerian exports to the French market, as well as investments flowing into Nigeria from French companies. This will also bring foreign exchange earnings, thereby bolstering Nigeria’s foreign reserves and strengthening its economic position. Also, collaboration with French companies will bring about transfer of advanced technologies and know-how to Nigerian companies.

In the long-run, we expect economic diversification, enhanced industrial capabilities, and sustainable development through collaborations in renewable energy.

Overall, the impact of these partnerships and collaborations is a thriving, diverse, and resilient Nigerian economy that is integrated into the global marketplace. By leveraging the potential of international collaborations, Nigeria can chart a path towards sustainable economic growth and technological advancement.

During the mission in France, several efforts were made to promote the Nigerian companies and their offerings to the French market. These activities aimed to create visibility, attract interest, and showcase the capabilities of the Nigerian companies. Some of the efforts included pre-arranged business-to-business (B2B) meetings and networking sessions, Informative marketing collaterals such as brochures, product catalogues, etc. in both English and French and post-event follow-up communication with the contacts made during the event. This communication includes sending personalized emails, scheduling follow-up meetings, and nurturing the potential partnerships.

These efforts collectively aimed to maximize the exposure of Nigerian companies in the French market, create positive impressions, and lay the groundwork for potential future collaborations and business opportunities. The promotional activities sought to present Nigeria’s economic potential and capabilities in the best possible light, fostering mutual interest and understanding between the Nigerian and French business communities.

Looking ahead, the Franco-Nigerian Chamber of Commerce & Industry has several future plans and strategies in place to continue fostering economic growth and international collaborations for Nigerian companies. Some of these plans include sustaining business delegations and trade missions to other countries , hosting breakfast meetings, luncheons and economic forums with experts, policy-makers and business leaders, promoting Nigeria as an attractive investment destination for foreign companies and continuous support for SMEs.

It is important to note that the Chamber is the only Chamber of Commerce in Nigeria that has opened a membership categories for SMEs. This is because of our keen interest in the growth of SMEs. We will continue to focus on supporting small and medium-sized enterprises (SMEs) in Nigeria by providing technical trainings, capacity-building programs, mentorship, and access to resources to help them scale their businesses and enter the international market