President Bola Tinubu and French President Emmanuel Macron signed two landmark agreements in Paris, France, focusing on the development of critical infrastructure and long-term sustenance of agriculture and food security.
The agreements reaffirm the commitment of both countries to work together on investment and development of critical infrastructure, healthcare transportation, and agricultural value chain.
The partnership will also explore cooperation in renewable energy and human capital development through diverse financial and technical assistance programmes, totaling over 300 million euros, spread across all geopolitical zones in Nigeria.
Mr Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, and Mr Antoine Armand, France’s Minister of Economy, Finance, and Industry, signed a Letter of Intent, Mr Bayo Onanuga, Special Adviser to the President, Information and Strategy, said in a statement.
The agreement aims to enhance mutual trade and cross-border services and remove fiscal barriers while protecting labour rights.
Additionally, Edun and Mr Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to support Nigeria’s Renewed Hope Agenda.
This agreement focuses on stimulating and strengthening the economy through sustainable projects in urban infrastructure development, transportation networks, housing infrastructure, human capital development, agriculture, food security, and healthcare.
“The AFD reaffirmed its commitment to supporting Nigeria’s socio-economic growth, particularly in energy access and transition, sustainable agriculture, and food security.
“The agency will provide financing for agro-logistic hubs and support the real sector by providing capital to micro, small, and medium-sized enterprises (MSMEs) in high-impact sectors.”
Earlier, Tinubu and Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman Tony Elumelu and Armand, for the bank to commence operations in Paris.
Zenith Bank also inaugurated its services in the country during the visit.
The partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors, and top government officials from both countries.
The event took place at the Palais des Elysée in Paris, France, during President Tinubu’s state visit.