The French Development Agency (AFD) has committed over € 1 billion in Nigeria since 2008, according to the French Ambassador to Nigeria, Denys Gauer (photo).

Speaking while receiving a team from the Nigerian National Petroleum Corporation (NNPC) in Abuja on Monday, the Ambassador said the financial commitments were aimed at supporting sustainable growth with emphasis on economic diversification like access to power, among others.

For his part, NNPC Spokesman, Ndu Ughamadu, disclosed that the investment climate in Nigeria at present is very conducive to attract investors as pipeline vandalism has reduced significantly.

It should be recalled that the Agency recently announced plans to work with the NNPC to mobilize 1 billion euros from investors in France. An amount that will strengthen the local industry plagued by a significant drop in production and low prices which seriously weakened the economy.

Anita Fatunji