…targets more local production, jobs as Canal+, MultiChoice, Universal Music eye expansion
President Bola Ahmed Tinubu has held extensive discussions with Vincent Bolloré of the Bolloré Group and his executives in Paris on expanding the group’s investments in Nigeria’s film, entertainment, fibre-optic infrastructure and digital economy.
The meeting, held on Friday, focused on deepening the group’s presence in Nigeria through businesses including Canal+, MultiChoice and Universal Music.
According to the State House, the Bolloré Group confirmed plans to deepen the localisation of its operations in Nigeria, while outlining new investments centred on the country’s creative and digital economy. (State House Abuja)
Tinubu said the discussions came at a time when Nigerian music, films, fashion and other creative works were attracting growing international attention.
“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,” the President said.
He said the country must convert its growing global cultural influence into sustainable economic benefits for Nigerians.
“We must turn this moment into lasting economic value for our people,” Tinubu said.
The President said Bolloré Group, through Canal+, MultiChoice, Universal Music and other businesses, was looking to do more in Nigeria, adding that the group viewed the country as the “arrowhead of Africa’s cultural awakening”, driven by Nollywood, Afrobeats and the growing global appetite for Nigerian culture.
Tinubu said his administration was particularly focused on ensuring that more of the economic value generated by Nigerian creative talent remained within the country.
“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.
He added that he had consistently made the case for greater localisation by MultiChoice and other companies operating in Nigeria.
The President said the government’s ongoing reforms were creating conditions for investment and economic growth, stressing that such investments must translate into tangible opportunities for Nigerians.
“My responsibility is to ensure that these investments translate into real opportunities for Nigerians,” Tinubu said.
“This is the purpose of the Renewed Hope Agenda.”
The State House said Tinubu also welcomed the Group’s decision to deepen localisation in Nigeria, noting that the country’s growing global cultural influence offered an opportunity to bring more production, investment and jobs home. (State House Abuja)
