President Bola Tinubu’s three-day state visit to France has culminated in the signing of two significant agreements aimed at boosting infrastructure development in Nigeria.
The agreements will focus on critical sectors including healthcare, transportation, agriculture, renewable energy, and human capital development.
The first agreement, valued at over €300 million, will fund a range of infrastructure projects across Nigeria’s geopolitical zones. These projects are designed to enhance the country’s infrastructure while fostering growth in critical sectors such as agriculture, healthcare, and renewable energy.
The second agreement is part of President Tinubu’s Renewed Hope Agenda, focusing on urban infrastructure, housing, transportation, education, and agriculture. This agreement aims to support the reforms under the Tinubu administration and further strengthen bilateral relations between the two nations.
The visit also marked a major milestone for Nigerian banking as Zenith Bank launched operations in France, while United Bank for Africa (UBA) Group, led by Chairman Tony Elumelu, secured an agreement to establish a presence in the French market.
The €300 million infrastructure agreement was signed by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and France’s Minister of Economy, Finance, and Industry, Antoine Armand. The agreement reflects a shared commitment to advancing infrastructure development, with an emphasis on healthcare, transportation, agriculture, and renewable energy.
Additionally, the French Development Agency (AFD) signed a second agreement to support the Nigerian government’s economic reforms, specifically focusing on sustainable development projects. The AFD’s support will cover key sectors such as urban development, education (particularly STEM), food security, and healthcare.
In his address, President Tinubu expressed his admiration for the relationship between Nigeria and France, noting that both countries are committed to fostering economic development in Africa. He emphasized the need for Nigeria’s reforms to improve the continent’s economic future, stressing the importance of moving away from past challenges and embracing a more optimistic and committed approach to development.
At a state dinner hosted by the French government at the Palais des Elysée, President Tinubu commended French President Emmanuel Macron for his support of Africa and Nigeria. He highlighted the mutual respect and shared vision between both countries, noting the positive impact of French investments in Nigeria, particularly in sectors like oil, gas, and food security.
In his remarks, President Macron acknowledged Nigeria’s pivotal role in Africa, praising the country for its leadership and the resilience of its people. He expressed confidence in the future of Nigeria-France relations and reaffirmed France’s commitment to supporting Nigeria’s economic transformation.
