TINUBU SEEKS MORE BOLLORÉ INVESTMENT IN NIGERIA’S ENTERTAINMENT, DIGITAL ECONOMY
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By Aishat Momoh. O.
President Bola Tinubu has said his administration is seeking to attract increased investment from France-based Bolloré Group into Nigeria’s film, entertainment, fibre optics and digital economy sectors.
Tinubu disclosed this on Friday after meeting with the chairman of Bolloré Group, Vincent Bolloré, and other executives of the company in Paris, France.
The President said discussions focused on expanding the group’s investments in Nigeria through its businesses, including Canal+, MultiChoice and Universal Music.
Tinubu, in a post on his X handle, said the group was interested in doing more business in Nigeria, which he described as a leading force in Africa’s cultural growth.
He wrote, “Today in Paris, I met with Vincent Bolloré of Bolloré Group, and his executives for extensive discussions on expanding their investments in Nigeria across film, entertainment, fibre optics and the digital economy.
“Through Canal+, MultiChoice, Universal Music and other businesses, they are looking to do more in Nigeria.
“They see our country as the arrowhead of Africa’s cultural awakening, powered by Nollywood, Afrobeats and the growing global appetite for Nigerian culture.”
Tinubu said the meeting came amid the growing international reach of Nigerian music, films, fashion and culture.
“Nigeria is having a remarkable cultural moment in the world. Our music fills stadiums across continents. Our films and stories are reaching new audiences. Nigerian creativity, fashion and culture are commanding global attention.
“We must turn this moment into lasting economic value for our people,” he said.
The President said his administration wanted a greater proportion of the economic value generated by Nigerian talent to remain in the country through increased local production, investment in domestic industries and infrastructure, and job creation.
“I want more of the value created by Nigerian talent to remain in Nigeria. More production at home. Greater investment in our local industries and infrastructure. More opportunities and jobs for our young people,” he said.
Tinubu added that he had consistently advocated greater localisation by MultiChoice and other companies operating in Nigeria.
He said the Federal Government’s ongoing reforms were creating conditions for increased investment and economic growth.
“My responsibility is to ensure that these investments translate into real opportunities for Nigerians,” the President said.
Bolloré is a prominent French businessman whose family-controlled Bolloré Group holds a 30.4 per cent stake in Canal+, the French pay-TV and content company, as well as interests in Universal Music Group, Havas and other businesses.
Canal+ has expanded its operations across Africa and completed the acquisition of MultiChoice Group, the South African-based pay-TV operator with a major presence in Nigeria through DStv and related services.
The meeting in Paris formed part of Tinubu’s engagements with international investors during his ongoing European stay, as the administration seeks to attract investment into Nigeria’s non-oil sectors.
The President also met French President Emmanuel Macron for a private dinner at the Élysée Palace in Paris on Thursday.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed the meeting in a post on X on Friday, saying it reflected the enduring relationship between Nigeria and France and their shared commitment to strengthening bilateral cooperation.
Tinubu is currently on a three-week annual leave in Europe. He began the trip with a visit to London, United Kingdom, on August 30, before travelling to Paris on Sunday for the second leg of his vacation.
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