Akin Adesanya
President Tinubu’s recent State visit to the French President, Emmanuel Macron has generated major attention, especially given the debates surrounding Africa’s trade and industry neglect and the imbalance in global trade.
Building a web of international Trade partners with Nigeria is very crucial at this time, especially as Nigeria is grappling through a period of reforms by the Tinubu`s government and the tough effects the reforms are having on the masses. The hyperinflation of goods and services, especially, essential commodities, food and most importantly, Petrol gives credence for President Tinubu to quickly form international alliance that will benefit the country and its citizens.
During the Bilateral meeting, President Tinubu stressed the need for economic collaboration, emphasizing that a hungry nation won’t care about climate or the environment. This statement highlights the needed urgency of addressing Africa’s economic challenges, which have been worsened by the deliberate neglect of the continent by global economic superpowers.
President Tinubu’s remarks also painted the imbalance in world trade, which has excessively favored Western countries at the expense of African countries. This inequality has resulted in Africa’s limited access to world markets, stifling the continent’s growth and development.
President Macron applauded Tinubu, recognising his efforts to transform Nigeria into a force in Africa, just as he did in Lagos during his tenure as Executive Governor. Macron also expressed France’s willingness to form a multi-sectorial cooperation with Nigeria, in areas of health, creative industry and climate change.
The meeting between Tinubu and Macron marks an important shift in Nigeria’s foreign policy, as Nigeria seeks to fortify its economic ties with Europe. This development is strategic, given the current global economic issues, which has seen a decline in economic cooperation between Africa and the West.
From the meeting, these are the major Takeaways
1. Economic Cooperation: Tinubu stressed the need for economic cooperation between Nigeria and France, emphasising the potential benefits of a multi-sectorial partnership.
2. Disparity in World Trade: Tinubu’s comments highlighted the imbalance in world trade, which has excessively favored the West at the detriment of African countries.
3. France’s Commitment to Nigeria: Macron expressed France’s readiness to strengthen its economic ties with Nigeria, admitting the Nigeria`s potential as an important player in the global economy.
In conclusion, President Tinubu’s visit to President Macron is a major step in advancing his administration’s efforts in revamping Nigeria`s economy and position Nigeria as a major player in the world trade ecosystem.
May Nigeria continue to succeed