President Bola Tinubu has called for increased investment by France-based Bolloré Group in Nigeria’s film, entertainment, fibre optics and digital economy sectors, as part of efforts to attract more foreign capital into the country’s non-oil economy.
Tinubu made the call on Friday after meeting with the Chairman of Bolloré Group, Vincent Bolloré, and other executives of the conglomerate in Paris, France. The President disclosed the outcome of the meeting in a post on his official X handle, saying discussions focused on expanding the group’s investments in Nigeria through its various businesses, including Canal+, MultiChoice and Universal Music.
According to Tinubu, the discussions were held against the backdrop of the growing international visibility of Nigerian music, films, fashion and other aspects of the country’s creative industry. He said Nigeria was experiencing a significant cultural moment globally, with Nollywood and Afrobeats attracting audiences and consumers across different continents.
The President said the country must translate the growing global demand for Nigerian creativity and culture into sustainable economic benefits for Nigerians. He stressed the need for increased local production, investment in domestic industries and infrastructure, as well as the creation of more employment opportunities for young people.
Tinubu also reiterated his position that more value generated from Nigeria’s creative talents should remain within the country. He said his administration would continue to encourage greater localisation by MultiChoice and other multinational companies operating in Nigeria, while creating an environment that supports investment and economic expansion.
He said, “My responsibility is to ensure that these investments translate into real opportunities for Nigerians,” stressing that the government’s economic reforms were designed to create conditions capable of attracting investments and supporting long-term growth.
Bolloré Group has significant interests in the global media and entertainment industry. The family-controlled group owns a substantial stake in Canal+, which has expanded its operations across Africa, including through its acquisition of MultiChoice Group, the South African-based pay-TV company with major operations in Nigeria through DStv and related services.
The group also has interests linked to Universal Music Group and Havas, among other businesses, giving it a broad presence across entertainment, media, advertising and communications.
The Paris meeting is part of Tinubu’s broader engagement with international investors and foreign governments during his European trip, with a focus on strengthening economic partnerships and attracting investment into sectors beyond oil.
The President’s engagement with Bolloré Group came a day after he met French President Emmanuel Macron for a private dinner at the Élysée Palace in Paris. Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed the meeting on Friday, describing it as a reflection of the longstanding relationship between Nigeria and France and their shared interest in strengthening bilateral cooperation.
Tinubu commenced his three-week annual leave in Europe on August 30, beginning with a visit to London, United Kingdom. He subsequently travelled to Paris for the second leg of the holiday, where he has continued engagements with business and political leaders.
The administration has continued to emphasise foreign investment, local industrial development and job creation as key components of its efforts to strengthen Nigeria’s economy and increase the domestic value derived from the country’s growing creative and digital sectors.
