*The Nigerian Government and France sign Letters of Intent affirming their commitment to working together on investment and development of critical infrastructure, healthcare transportation, agricultural value chain, renewable energy, and human capital development, and others to the tune of over Euros 300 million spread across all geopolitical zones in the country

Isola Moses | 绿帽献妻

President Bola Ahmed Tinubu and French President Emmanuel Macron Thursday, November 28, 2024, signed two agreements in Paris, French capital, to affirm a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security in Nigeria.

Earlier, Presidents Tinubu and President had witnessed the signing of the agreement by Mr. Tony Elumelu, Group Chairman of United Bank for Africa (UBA) Plc and Mr. Antoine Armand, French Minister for Economy, Finance and Industry for the Nigerian commercial bank to commence operations in Paris.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, who disclosed this development in a statement, said Zenith Bank also inaugurated its services in European the country during the visit.

The Federal Government noted both Nigeria and France inked the partnership agreements at an economic forum attended by businessmen, captains of industry, governors, and some top government officials of both countries at the Palais des Elys茅e in Paris, during President Tinubu’s three-day state visit.

The statement also noted Mr. Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, and Mr. Armand signed the Letter of Intent.

The document indicated “the two countries affirmed their commitment to working together on investment and development of critical infrastructure, healthcare transportation, agricultural value chain, renewable energy, and human capital development, through diverse financial and technical assistance programmes, of over Euros 300 million spread across all geopolitical zones in the country.

“The two countries committed to forging a strategic relationship in project implementation and enhance mutual trade and cross border services by removing fiscal barriers while protecting labour rights.”

The Federal Government said Edun, and Mr. Remi Rioux, Chief Executive Officer (CEO) of the French Development Agency (AFD), also signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.

The document tagged, “The Declaration鈥�, 鈥渟et out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to supporting the socio-economic growth of Nigeria through financing sustainable projects in urban infrastructure development, transportation network, housing infrastructure, human capital development through improved education specifically in STEM, agriculture, food security and healthcare.

“The AFD reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr President on energy access and transition, sustainable agriculture and food security by financing the improvement of agro-logistic hubs.”

The document further stated: “Importantly, the AFD committed to supporting the real sector by providing capital from MSME in high-impact sectors.

“The Federal Republic of Nigeria also affirmed its support for the projects financed by the AFD and committed to ensure that the implementation of the projects are expedited efficiently.”