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COVID-19: Nigeria-France Trade Volume Drops By $2.2bn In 2020

Published

4 years ago

Apr 13, 2021.

The trade volume between Nigeria and France dropped by 2.2billion USD in 2020 due to the impact of the COVID-19 pandemic.

The French Minister of Trade and Attractiveness, Franck Riester, disclosed this at a meeting with the Nigeria Governors Forum (NGF) on Tuesday in Abuja, Eko hot blog gathered.

The meeting was presided over by Plateau State Governor, Simon Lalong, who stood in for the NGF Chairman and governor of Ekiti state, Dr. Kayode Fayemi, who joined the meeting later.

COVID-19

Riester described Nigeria as the France’s first commercial partner in Sub-Saharan Africa.

He said, “Nigeria is indeed France’s first commercial partner in Sub-Saharan Africa : bilateral trade amounted to a total of 4.5 billion USD in 2019 (2.3 billion USD in 2020, due to the Covid-19 pandemic).

“France is a major financial partner for Nigeria, being the second bilateral creditor of Nigeria after China, thanks to the involvement of French Development Agency (AFD). AFD engaged more than 2 billion Euros in the last 10 years in over 35 development projects.

“France will also dedicate financing and capacity building in the health sector in some Nigerian States.

“France is also one of the major partners of the COVAX initiative. Last February, President (Emmanuel) Macron stated that the failure to share vaccines would entrench global inequality and proposed sending part of the coronavirus vaccine supplies owned by European countries, the USA, China and Russia to developing countries.

“Nigeria is the first country in sub-Saharan Africa for French direct investments.”

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