Strategic Partnership Established
Nigeria and France have signed two pivotal agreements aimed at enhancing critical infrastructure and ensuring sustainable agriculture and food security. The agreements were finalised during an economic forum at the Élysée Palace in Paris, marking a significant achievement in President Bola Tinubu’s state visit to France. The event featured key business leaders, state governors, and high-ranking officials from both nations.
Key Financial Commitments
During the forum, Nigeria’s Finance Minister, Wale Edun, and France’s Minister of Economy, Antoine Armand, signed a Letter of Intent committing over €300m to healthcare, transportation, agriculture, renewable energy, and human capital development. The agreement promises equitable distribution of resources across Nigeria’s geopolitical zones while addressing fiscal barriers and prioritising labour rights.
Support for Renewed Hope Agenda
Additionally, Edun signed another agreement with the Chief Executive of the French Development Agency (AFD), Rémi Rioux, to support Nigeria’s Renewed Hope Agenda. This partnership targets economic growth through investments in urban infrastructure, education, sustainable agriculture, and food security. The AFD also committed to funding agro-logistics hubs and projects supporting small businesses in high-impact sectors.
Nigerian Banks Expand into France
Highlighting the financial collaboration, United Bank for Africa (UBA) secured approval to commence operations in Paris, with Zenith Bank also launching services in the French capital. These expansions underscore growing economic ties and mutual investment opportunities between Nigeria and France.
Presidents Reaffirm Cooperation
At a joint press conference, Presidents Tinubu and Macron highlighted their commitment to enhance bilateral ties in key sectors. They focused on strengthening cooperation in food security, energy, mineral resources, and defense strategies. President Tinubu applauded France’s robust support for Nigeria’s development initiatives. He underscored the significance of international partnerships in fostering global economic stability. Both leaders expressed their dedication to deepening the strategic relationship for mutual benefit.
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