Nigeria, France seek increased energy investments

Nigeria and France are seeking to bolster their energy sector collaborations, with industry leaders emphasizing the need for increased investment, technology transfer, local content development and improved infrastructure. During a Franco-Nigerian Chamber of Commerce and Industry energy roundtable, stakeholders identified gas development, energy transition, decarbonisation and regulatory stability as key areas for expanding economic ties.

TotalEnergies Nigeria Managing Director Matthieu Bouyer highlighted the company's 70-year partnership with Nigeria, expressing confidence in the country's potential to become a long-term investment destination for French firms. He further stressed the importance of gas infrastructure, domestic utilisation and technology transfer to unlock Nigeria's energy potential.

Bouyer pointed out that Nigeria's natural gas resources could serve multiple purposes, including electricity generation, manufacturing, exports and industrial growth, but adequate infrastructure and a stable investment environment would be crucial to attract necessary capital. Nigeria LNG Limited Managing Director Adeleye Falade echoed Bouyer's sentiments, emphasizing the significance of gas in Nigeria's industrialisation and economic diversification.

He stressed that Nigeria's gas resources, estimated at 600 trillion cubic feet, should be seen as a foundation for industrial development, clean cooking, export earnings and economic growth. Falade highlighted a major project, Train 7 expansion, which was 99.5 percent complete, creating jobs and boosting local manufacturing capabilities.

Consul-General of France in Lagos Laurent Favier emphasized that the Franco-Nigerian energy roundtable aimed to translate diplomatic and commercial relationships into concrete business engagements and investment commitments.