Nigeria’s President Bola Tinubu and France’s President Emmanuel Macron signed two pivotal agreements in Paris on Thursday, marking a significant step in strengthening bilateral relations. The agreements, focused on critical infrastructure and long-term agriculture and food security, were signed during an economic forum at the Élysée Palace, as part of President Tinubu’s state visit to France.
The forum brought together business leaders, industry captains, state governors, and top officials from both nations. Notably, United Bank for Africa (UBA) Group Chairman, Tony Elumelu, signed an agreement with French Minister of Economy, Finance, and Industry, Antoine Armand, to enable UBA’s operations in Paris. Additionally, Zenith Bank officially launched its services in France, further enhancing financial cooperation between the two countries.
A Letter of Intent reaffirming commitments to investments across healthcare, transportation, agriculture, renewable energy, and human capital development was signed by Nigeria’s Minister of Finance, Mr. Wale Edun, and Antoine Armand. The package, valued at over €300 million, will target projects across Nigeria’s geopolitical zones.
This agreement also addressed strategic implementation, aiming to remove fiscal barriers, safeguard labor rights, and ensure efficient project execution.
Another Letter of Intent was signed by Mr. Edun and Mr. Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD). This declaration supports Nigeria’s Renewed Hope Agenda, which seeks to stimulate economic growth through sustainable urban infrastructure, improved transportation networks, housing, education in STEM, agriculture, food security, and healthcare.
AFD pledged to fund agro-logistic hubs, promote sustainable agriculture, enhance energy access, and support MSMEs in high-impact sectors, while Nigeria committed to expediting these initiatives.
Speaking at a joint press conference with President Macron, President Tinubu underscored Nigeria’s dedication to collaboration in food security, energy, solid minerals, education, and defense, highlighting the importance of these partnerships for sustainable development.
These agreements signify a milestone in Nigeria-France relations, solidifying mutual commitments to socio-economic development and showcasing the progress made during President Tinubu’s three-day state visit to France.
