President Bola Ahmed Tinubu and French President Emmanuel Macron have signed two significant agreements aimed at fostering a partnership between Nigeria and France in the development of critical infrastructure and the promotion of long-term agricultural and food security initiatives in Nigeria.
The agreements, valued at over €300 million, cover key areas such as healthcare, transportation, the agricultural value chain, and renewable energy. These projects are set to be implemented across all six geopolitical zones of Nigeria.
The partnership agreements were finalized at an economic forum held at the Palais des Elysée in Paris, where business leaders, governors, and top officials from both countries gathered during President Tinubu’s state visit.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, along with Mr. Armand, signed a Letter of Intent.
The agreement highlights the two countries’ commitment to collaborate on investment in infrastructure, healthcare, transportation, renewable energy, and human capital development, through various financial and technical programs totaling over €300 million.
Additionally, Minister Edun and Mr. Remi Rioux, CEO of the French Development Agency (AFD), signed another Letter of Intent to support the Nigerian government’s “Renewed Hope Agenda,” which aims to stimulate economic growth.
The document outlines AFD’s long-term commitment to supporting Nigeria’s socio-economic development through funding sustainable projects in urban infrastructure, transportation, housing, education (particularly in STEM), agriculture, food security, and healthcare.
The AFD also committed to supporting Nigeria’s energy transition, sustainable agriculture, and food security initiatives by investing in agro-logistics hubs and providing capital for micro, small, and medium-sized enterprises (MSMEs) in key sectors.
In addition, the agreement included the launch of banking services by the United Bank for Africa (UBA) in Paris, overseen by UBA Group Chairman Tony Elumelu and French Minister of Economy, Finance, and Industry, Mr. Antoine Armand. Zenith Bank also inaugurated its services in France during the visit.
