Tinubu, Bolloré discuss new investments in Nigeria’s film, entertainment sectors

President Bola Ahmed Tinubu has held talks with Vincent Bolloré of the Bolloré Group in Paris over plans to expand the group’s investments in Nigeria’s creative and digital economy.

Mr Bolloré is a French businessman whose interests span media, entertainment, communications, and logistics, with the Bolloré Group holding stakes in major global media companies, including Canal+ and Universal Music Group.

His connection to Nigeria’s media industry has become more significant following Canal+’s acquisition of the MultiChoice Group. PREMIUM TIMES previously reported that Canal+ completed its acquisition of MultiChoice in July, making the African pay-TV company a full subsidiary of the French media group.

MultiChoice operates DStv and GOtv in Nigeria and other African markets. PREMIUM TIMES also reported that MultiChoice Nigeria is now a Canal+ company following the acquisition.

Investment Plan

According to a statement by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, the group confirmed plans to deepen the localisation of its operations in Nigeria across film, entertainment, fibre-optic infrastructure and related sectors.

The meeting took place on Thursday as Mr Tinubu continued his working vacation in France.

Mr Bolloré and his executives outlined what the Presidency described as a series of new investments centred on Nigeria.

The executives described Nigeria as the “spearhead of Africa’s cultural renaissance”, citing the global success of Nollywood and Afrobeats, as well as the growing international demand for Nigerian culture.

The group’s plans include greater localisation of its operations, with the Presidency saying this would cover film, entertainment and fibre-optic infrastructure.

Tinubu seeks more local opportunities

Mr Tinubu welcomed the group’s reported plans to deepen its localisation in Nigeria, saying the country’s growing global cultural influence presented an opportunity to bring more production, investment and jobs into the country.

The President reaffirmed his administration’s commitment to economic development, with emphasis on job creation for young Nigerians and investment in digitalisation.

He also said the government would continue to support investments that expand Nigeria’s creative and digital economy, develop local talent and strengthen infrastructure.

PREMIUM TIMES previously reported that Mr Tinubu described Nigeria’s creative economy as a driver of growth, highlighting the role of art, music, film and literature in the country’s global influence.

He said the government would seek to position Nigeria as a base for businesses serving Africa and the wider global market.

Renewed Hope Agenda

Mr Tinubu said the Renewed Hope Agenda was focused on creating an economy where Nigeria’s talent, enterprise, and global cultural reach translate into greater opportunities and improved livelihoods for Nigerians.

The meeting is part of the President’s engagements in France during his working vacation.