President Bola Tinubu has called for increased investment by French conglomerate Bolloré Group in Nigeria’s creative and digital economy, saying the country must convert the growing global appeal of its culture into lasting economic opportunities for Nigerians.
Tinubu made the call on Friday after meeting with the chairman of Bolloré Group, Vincent Bolloré, and senior executives of the company in Paris, France.
The President said discussions with the French business group focused on expanding its investments in Nigeria across several sectors, including film, entertainment, fibre optics and the digital economy.
According to Tinubu, the group is considering increased activities in Nigeria through businesses associated with it, including Canal+, MultiChoice and Universal Music.
The President highlighted Nigeria’s growing international influence in music, film, fashion and other creative industries, particularly through Nollywood and Afrobeats.
He said Nigeria was experiencing what he described as a significant cultural moment globally, with Nigerian music attracting audiences across continents and the country’s films and stories reaching new international markets.
Tinubu said the government’s priority was to ensure that the growing global demand for Nigerian creative products translates into greater economic benefits for the country.
He specifically called for more production to take place locally, increased investment in Nigerian industries and infrastructure, and the creation of additional employment opportunities for young people.
The President said he wanted a larger share of the economic value generated by Nigerian talent to remain within the country.
He also reiterated his position on the need for greater localisation by major companies operating in Nigeria, including MultiChoice.
According to him, government reforms are intended to create an environment capable of attracting investment and supporting economic growth.
“My responsibility is to ensure that these investments translate into real opportunities for Nigerians,” Tinubu said.
Bolloré Group is a major French business conglomerate with interests across several sectors. Its business interests include a substantial stake in Canal+, while the company also has connections to businesses in the music, media and communications industries.
Canal+ has expanded its presence in Africa and completed the acquisition of MultiChoice Group, the South African-based pay-television company with major operations in Nigeria through DStv and related services.
The meeting therefore comes at a time when Nigeria is seeking to attract foreign capital into sectors beyond oil, particularly industries with the potential to create jobs and generate export earnings.
Nigeria’s creative economy has increasingly become an important part of the country’s international economic and cultural profile. Nigerian musicians, filmmakers, fashion designers and other creative professionals have gained audiences outside the country, creating opportunities for investment in production, distribution, digital platforms and related infrastructure.
Tinubu’s engagement with Bolloré Group forms part of his wider efforts to court international investors during his stay in Europe.
The President is currently on a three-week annual leave in Europe, which began in London on August 30. He subsequently travelled to Paris, where he has held engagements with French officials and business leaders.
On Thursday, Tinubu also met French President Emmanuel Macron during a private dinner at the Élysée Palace in Paris. The meeting, according to the President’s Special Adviser on Information and Strategy, Bayo Onanuga, reflected the longstanding relationship between Nigeria and France and their shared interest in strengthening bilateral cooperation.
The latest meeting with Bolloré signals the Federal Government’s continued push to attract private-sector investment into Nigeria’s creative and digital industries.
For Nigeria, the proposed expansion of investment could have implications for local content production, entertainment infrastructure, digital connectivity and employment, although the specific value, timeline and terms of any new investments discussed at the meeting were not disclosed.
Tinubu said the government would continue working to ensure that Nigeria’s cultural influence produces tangible economic benefits for its citizens
