During the recent state visit of President Bola Tinubu to Paris, Nigeria and France strengthened their bilateral relations by signing two important agreements. These agreements, aimed at advancing the development of critical infrastructure and ensuring sustainable agriculture, signal the commitment between the two countries towards mutual development and cooperation.
The visit, which included a meeting between President Tinubu and French President Emmanuel Macron, also marked the expansion of Nigerian banking operations in France. United Bank for Africa (UBA) and Zenith Bank formally launched their services in the country. UBA's entry into Paris came through a signing ceremony attended by its group president, Tony Elumelu, and French Economy Minister Antoine Armand. Similarly, Zenith Bank inaugurated its operations during the same event. These developments were witnessed by the two Presidents at an economic forum held at the prestigious Palais des Elysées, which brought together government officials, industry leaders and business executives from both countries.
One of the major outcomes of the visit was the signing of a letter of intent by Nigeria's Finance Minister, Wale Edun, and French Minister Antoine Armand. The document outlines a collaborative effort to invest in critical sectors such as infrastructure, health care, transportation, renewable energy and agriculture. The partnership also focuses on strengthening Nigeria's agricultural value chain and advancing human capital development through education, particularly in science, technology, engineering and mathematics (STEM).
To support these initiatives, both countries pledged more than €300 million for financial and technical assistance programs. These funds will support projects spanning all geopolitical zones of Nigeria, addressing the diverse developmental needs of the country.
In addition to this agreement, a second letter of intent was signed by Minister Edun and Remi Rioux, Chief Executive Officer of the French Development Agency (AFD). This document reaffirmed the AfD's commitment to support President Tinubu's Renewed Hope Agenda, a reform initiative aimed at stimulating economic growth and stability in Nigeria.
Under this framework, the AfD pledged long-term support for projects focused on urban infrastructure, transport networks, housing development, sustainable energy and improved agro-logistics for food security. The agency is also committed to supporting small and medium-sized enterprises (MSMEs) in high-impact sectors to boost economic activity and innovation.
Both Nigeria and France expressed their dedication to ensuring the efficient implementation of these projects. They stressed the importance of promoting trade, removing financial barriers and protecting labor rights as part of the strategic relationship to enhance mutual development.
President Tinubu highlighted that these agreements represent a new chapter in the partnership between Nigeria and France. With a focus on long-term sustainability, the collaboration aims to address critical challenges while promoting innovation and economic resilience.
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The agreements not only strengthen diplomatic and economic ties but also reflect a shared vision for inclusive growth, better infrastructure and better quality of life for citizens in both the countries.
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