Nigeria’s President Bola Tinubu and France’s President
Emmanuel Macron have formalized two significant agreements aimed at enhancing critical infrastructure and securing long-term agricultural and food security for Nigeria.
The agreements were signed during an economic forum at the Palais des Élysée, attended by business leaders, industry figures, state governors, and senior officials from both nations as part of President Tinubu’s state visit to France.
Among the notable developments, United Bank for Africa (UBA) Group Chairman, Tony Elumelu, and French Minister for the Economy, Finance, and Industry, Antoine Armand, signed an agreement allowing UBA to begin operations in Paris. Zenith Bank also launched its services in France, marking its official entry into the French market.
In a statement from the Special Adviser to the President on Information and Strategy, Bayo Onanuga, titled ‘Nigeria, France Sign Letters of Intent on Critical Infrastructure as Zenith Bank Opens Paris Branch’, the details of the agreements were outlined.
Additionally, Nigeria’s Minister of Finance, Wale Edun, and Minister Armand signed a Letter of Intent, committing both nations to invest in critical sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development. The financial and technical assistance package, valued at over €300 million, will be distributed across Nigeria’s geopolitical zones. The agreement highlights both countries’ commitment to fostering a strategic partnership for the successful implementation of projects, removing fiscal barriers, and protecting labor rights.
Another important agreement was signed between Minister Edun and Rémi Rioux, the CEO of the French Development Agency (AFD), to support Nigeria’s Renewed Hope Agenda, which is designed to drive economic growth.
This partnership affirms AFD’s ongoing support for Nigeria’s socio-economic development, focusing on sustainable urban infrastructure, transportation, housing, education in STEM, agriculture, food security, and healthcare. AFD also pledged to fund agro-logistic hubs aimed at enhancing energy access, sustainable agriculture, and supporting MSMEs in key sectors.
At a joint press conference with President Macron, President Tinubu reaffirmed Nigeria’s commitment to boosting cooperation with France in areas such as food security, energy, solid minerals, education, and defense.
The agreements and new partnerships marked a significant milestone during President Tinubu’s three-day state visit to France, underscoring the strengthening of ties and shared priorities between the two countries.
