DON'T MISS : Talking Africa Podcast – Mozambique's insurgency: After Palma, what comes next?

Nigeria/France: Gilbert Chagoury ‘The concept is work and play. You don’t need to leave’

In depth
This article is part of the dossier: Nigeria/France: Le Nouveau Chapitre

By Nicholas Norbrook, in Lagos
Posted on Monday, 28 June 2021 14:34, updated on Tuesday, 24 August 2021 15:29

Gilbert Chagoury (photo: Bruno Levy)

Gilbert Chagoury, the co-founder of the Chagoury Group talks to The Africa Report about Eko Atlantic, building a city within a city

Where Victoria Island meets the Atlantic Ocean, a vast land reclamation and urbanisation project by the Chagoury Group is changing the Lagos skyline. Eko Atlantic City, founded in 2003, was intended to stop the erosion of Victoria Island while creating a commercial and residential city within Nigeria’s economic capital.

“The concept is ‘work and play’,” says Gilbert Chagoury. “You don’t need to leave to go anywhere else.”

Also in this in Depth:

Nigeria/France: Mike Adenuga – ‘This is a strategic relationship’

The founder of Glo and Conoil Mike Adenuga credits several of his successes in business to partnerships with French firms

Nigeria: Aliko Dangote wants to “make Africa self-sufficient”

Nigeria's leading industrialist is pushing ahead with his refinery, which should see mechanical completion by the end of the year. He is attending President Macron's Choose France summit at Versailles on 28 June to build new links to French industry.

Nigeria/France: Tony Elumelu – “The Central Bank has a mandate”

Tony Elumelu is slowly linking up the composite parts of his business empire. The latest example: his recent oil field purchase, set to supply gas to a power plant in the Niger Delta.

Abdul Samad Rabiu – “We have de-risked the Nigeria/France relationship”

Abdul Samad Rabiu, the CEO and Chairman of BUA Group, has signed several major deals with French companies in recent times, from Axens as technical partner to his new refinery, to a 300tn plasterboard factory deal with French construction giant St Gobain. He intends to list a segment of his business empire on the Lagos Stock Exchange later this year.

Nigeria/France: Herbert Wigwe – “We want to be the Citibank of Africa”

Herbert Wigwe, the managing director of Nigeria's Access Bank, has been working on acquiring a French banking licence. It is all part of the plan to become the 'Citibank of Africa', and help plug the gaps in the global financial architecture that have left African companies shut out of financial markets.

Macron banks on Nigeria to dodge Sahel trap

France's President Emmanuel Macron spent a formative period in Nigeria and is now pushing French corporates to seek opportunities beyond their comfort zone. The Choose France summit of global business leaders held at Versailles on 28 June will be noticeable for a special Nigeria event, which will bring together leading Nigerian and French industrialists. Nigeria is the only country receiving this treatment at Choose France: a sign of how important France's economic diplomacy in Nigeria is to Emmanuel Macron.

Nigeria: The Lagos Free Zone – complete with port – aims to transform industrial growth

Special economic zones (SEZs) and free-trade zones were the spearhead of Asian industrialisation – allowing countries with major deficits in power, logistics and bureaucracy to pull in investors.

Nigeria/France: ‘The demand is huge for power,’ says TotalEnergies’ Nigeria CEO

When Covid-19 hit in March 2020, it came at a difficult time for the oil market. A price war between Russia and Saudi Arabia had pushed prices to the floor in February, when suddenly the pandemic drastically reduced consumption, sparking a worldwide rush to find storage for crude.