ESSEC Alumni in Nigeria: “This Country Sometimes Feels Larger Than Life”

Martin Folliasson (E20), President of ESSEC Alumni’s Nigeria Chapter, tells us more about the local community – and the activities he offers to them. If you are a graduate or a student in the area, join their online group!

ESSEC Alumni: What is your history with Nigeria? 

M. Folliasson: I first approached Nigeria during my internship at the French Embassy in Kampala, Uganda. At that time, I was already fascinated by the region’s cultural richness, and Afrobeats had become a familiar soundtrack to my evenings. The opportunity to move to Nigeria arose three years later, and it seemed like the next logical step at this point, given my growing interest in African economies – after Kampala I had the opportunity to do an internship in Project Finance within the American law firm Orrick, Herrington & Sutcliffe in Paris, with clients operating in Cameroon, Togo and the DRC. 

EA: What has been your career there?

M. Folliasson: I am a Financial Attaché from the French Treasury. My primary role is to engage with high-level officials and key business figures to draft in-depth reports and strategic analyses about Nigerian economy for the French government. There's been a lot going on since I arrived in May 2023: reforms led by President Tinubu, issuance of "diaspora bonds", recapitalization reform of Nigerian banks, etc. Also, I have had the chance to support French companies in the aviation sector, such as Airbus and ATR, as they navigate the Nigerian market. For example, we organized the visit of Nigeria’s Minister of Aviation to Paris, Marseille, and Toulouse in March, which resulted in the sale of 11 Airbus aircraft to Nigerian airlines company Ibom Air. It's been a rewarding experience to see tangible results from our diplomatic and business efforts.

EA: What sets Nigeria apart from any other destination according to you?

M. Folliasson: When you first step into Nigeria, the sheer scale of everything can seem quite intense. From the bustling streets of Lagos, where the energy never seems to fade, to the massive population—over 200 million people— Nigeria sometimes feels larger than life. And of course, Nigeria’s cultural scene is unmatched. The country’s contributions to global music, cinema, and art are undeniable. Afrobeats is now a global genre, and Nollywood is one of the world’s largest film industries, producing thousands of movies every year. 

EA: What is the economic and political climate currently in Nigeria? 

M. Folliasson: Nigeria is in a transitional phase. President Tinubu’s administration has embarked on a series of challenging reforms aimed at stabilizing the economy. These include the removal of fuel subsidies, which has had a significant impact on everyday Nigerians, especially the most vulnerable. In response, the government has initiated social transfer programs to help cushion the blow for lower-income households.

EA: How does this context affect our alumni’s prospects and opportunities in Nigeria?

M. Folliasson: Nigeria is well-positioned to benefit from two key global trends. First, the weakening of the naira has made Nigerian exports more attractive and competitive on the international market: this creates opportunities for sectors like agriculture and manufacturing. Second, as interest rates in key global economies decline, investors are seeking higher yields, often turning to emerging markets for more attractive returns. Nigeria, with its large, youthful population and abundant potentialities, could stand as a prime destination for these capital inflows.

EA: What are our alumni’s profiles and backgrounds in Nigeria? 

M. Folliasson: We have a small but diverse community with a mix of nationalities and professional backgrounds. There are French, Nigerian, Cameroonian, Italian, and Beninese citizens, working in a wide variety of sectors, from retail to public administration, hospitality, energy, and real estate. The vast majority are based in Lagos, the bustling economic heart of Nigeria. That said, some of our alumni split their time between Lagos and Abuja, Nigeria’s political capital.

EA: How does your own background in Nigeria help you support the local ESSEC community?

M. Folliasson: My position has given me access to a unique network of both local and international professionals. This has been incredibly helpful in organizing events that bring the ESSEC community together. For example, earlier this year, I had the pleasure of organizing the first HECxESSECxINSEAD New Year’s cocktail event at the French Ambassador’s residence. It was the first time alumni from these top schools had gathered in Abuja, and having the event in such a high-end place added a sense of formality and “French touch” to the occasion.

EA: What other events do you organize? 

M. Folliasson: Our most regular initiative has been organizing joint afterwork events for HECxESSECxINSEAD alumni, mainly in Lagos. Looking ahead, we are hoping to host another year-end dinner in a few weeks, which we hope will feature a special guest. It’s still in the planning stages, but we’re excited!

EA: What are your projects and ambitions for ESSEC Alumni’s Nigeria Chapter?

M. Folliasson: One of my long-term goals is to explore academic cooperation between ESSEC and Nigerian institutions. Nigeria has a large, young population eager for educational opportunities, and I believe there’s a lot of potential for partnerships that could benefit both our school and the local community. It’s a work in progress!

Join our Nigeria Chapter and our 125 clubs and chapters!

Interview by Louis Armengaud Wurmser (E10), Content Manager at ESSEC Alumni 

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