By Omolabake Fasogbon Despite economic headwinds, Nigeria has retained its position as the leading destination for French investment in West Africa, accounting for about 60 per cent of France’s investments in the sub-region. The European nation has equally absorbed over 16,000 Nigerian workers across more than 100 companies in the country, with plans to create more jobs as its investment portfolio expands. Consul General of France in Lagos, Laurent Favie said the development underscores France’s long-term confidence in Nigeria’s economy, revealing ’Energy’ as the core of its investments in Africa’s largest economy. Favie, who spoke at the French National Day celebration further reaffirmed his country’s confidence in the Nigerian economy, noting that the continuous business alliance between both nations has positively impacted the populace. He reflected on France’s long-standing relationship with Nigeria spanning 17 years, citing impacts across sectors and different parts of the country. He explained that the National Day remains significant as it celebrates the strength of the partnership between the two countries, as well as achievements of Team France in collaboration with the Nigerian government. Team France comprises key institutions instrumental to implementing France’s development programmes in Nigeria and deepening ties between both economies. They include Business France, the Economic Department, AFD Group with Proparco and Expertise France, French Foreign Trade Advisors, the Franco-Nigerian Chamber of Commerce, and the France–Nigeria Business Council, among others. Favie said Team France has birthed numerous partnerships and Memoranda of Understanding that support job creation, entrepreneurship and sustainable economic growth. According to him, key collaborations between the two countries extend to vocational training, digital and technological innovation, creative industries, e-sports, higher education and student mobility. He said, “The French Development Agency (AFD) has also invested over €3.3 billion in 57 projects across 23 Nigerian states over the past 17 years, including more than €1.1 billion through its private-sector arm, Proparco. The interventions, which now extend to all 36 states and the Federal Capital Territory, have seen over one million Nigerians benefit from improved access to safe drinking water, alongside investments in electricity, rural infrastructure and agricultural markets.” Highlighting the Omi Eko initiative as one of France’s flagship projects in Lagos, the envoy said it would deliver Africa’s first electric inland waterway transport system to enhance residents’ mobility. Samsung Targets One-tenth of Premium Smartphone Market By Omolabake Fasogbon Technology company, Samsung is targeting a 10 per cent share of the premium smartphone market with its foldable lineup by 2028. The company disclosed this in Lagos during a press briefing to unveil its latest foldable devices- Galaxy Z Fold8 and Fold8 Ultra, marking the eighth generation of its foldable smartphones. Already a leader in the foldable smartphone segment, Samsung said the new devices, equipped with features tailored to evolving consumer needs, would strengthen its position in the premium smartphone market while accelerating wider adoption of foldable devices. Head of Marketing Communications, Oge Maduagwu projected sustained growth for the global foldable smartphone market, estimating annual growth of about 20 per cent, with sales expected to double by 2028. Acknowledging increasing competition, Maduagwu said Samsung remains resolute, describing rivalry as a driver of innovation. She stressed that the company’s priority is to expand consumer adoption of foldable devices. Highlighting the new models’ features, Product Manager, Mobile Experience, Stephen Okwara explained the devices stand out for their enhanced power, agentic AI capabilities and advanced camera system. He said: “More than 60 per cent of users consume content on their devices. With this in mind, the Galaxy Z Fold8’s display ratio has been designed around how people naturally consume content throughout the day. By adapting the screen to the content, the device delivers a more immersive experience, while the Ultra represents Galaxy’s highest standard of performance, capability and innovation.” Speaking on the Galaxy Z Fold8 Ultra, Okwara said it represents Samsung’s most advanced foldable design to date. Also speaking, Head of Mobile Experience, Joy Tim-Ayoola, urged customers to register on the Samsung Care platform to enjoy comprehensive device protection and more affordable repair services. Appeal Court Reaffirms CITN’s Regulatory Role in Nigeria’s Tax Practice By Omolabak
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