The Ambassador of the Federal Republic of Nigeria to France, Dr Modupe Irele, on Tuesday announced that France invested about N150 billion(350 million euros) in Nigeria in 2017. Irele said in Lagos that the amount was disbursed as soft loans to the Federal and State Governments, as well as the private sector. “It is estimated that in 2017 alone, France invested around 350 million Euros (about N150 billion) in Nigeria, mostly through soft loans to both the Federal and State governments and the private sector.
“Available records also state that at the end of the first quarter of 2017, the trade volume between France and Nigeria stood at N668 .75 billion (1.9 billion euros). “And in 2016, the volume of trade transacted between Nigeria and France was ₦339.77 billion,’’ she said. Irele said that France and Nigeria’s economic relations had over the past 100 years been dominated by businesses in oil and gas, construction and other enterprises.