Kenny Okolugbo: Tinubu Has Leveraged Nigeria-France Ties To Attract Investment

Consultant on Communications and Strategy to the Office of the Senate President, Kenny Okolugbo, has commended President Bola Tinubu’s visit to France, describing it as a strategic move to attract investments and strengthen Nigeria’s economic ties with the European nation.

Okolugbo, in an interview with ARISE NEWS on Monday, reflected on the significance of such diplomatic engagements and emphasised the importance of a private-sector-driven approach in fostering sustainable economic growth.

He addressed the state of the nation amid President Bola Tinubu’s visit to France and highlighted the potential benefits of the trip.

He reflected on past interactions between Nigeria and France and assessed the ongoing efforts to strengthen economic ties.

“Remember that the French President visited Nigeria in 2018. He was received in Abuja by President Buhari and then-Governor Ambode in Lagos,” Okolugbo recalled.

“What were the benefits of that visit? I observed an increase in trade between France and Nigeria. The fact that 20% of France’s business with Africa is done with Nigeria clearly shows that there were some benefits, but in my opinion, they weren’t tangible.”

Commenting on the significance of President Tinubu’s visit, Okolugbo emphasised the President’s proactive approach to fostering investments. “By the time you see President Tinubu going to France and being received, it is because he wants to show that Nigeria is open to investment.

“Governor Mbah clearly stated that it’s about the urban water scheme. He already has a relationship with the French development finance institution and went there to enhance it.”

Okolugbo further discussed the nature of the delegation accompanying the President on such visits. “One thing I like about this delegation is that it’s more private-sector driven,” he noted.

“There are more private-sector people there than the usual government officials who often have no business in such visits. MOUs must now bring in foreign funds.”

He also addressed criticisms and highlighted Nigeria’s strategic approach to leveraging its geopolitical relationships. “The President is simply taking advantage of the frosty relationship between the Sahara region and France.

“I don’t see anything bad in that. When you look at the mining value chain that was signed, we expect that apart from the exchange programs, critical sectors of mining will be impacted.”

Okolugbo acknowledged the disparities in trade between Nigerian and French companies but saw the visit as a step in the right direction. “Looking at what has been done, it’s clear that France also needs Nigeria. I agree there’s a great disparity between the companies doing business in Nigeria and those in France. It’s very negligible; you can’t make the comparison. But let’s agree that something has started,” he said.

Boluwatife Enome

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