- Nigeria and France have signed agreements on €300 million investments across the country
- The investments cut across infrastructure, healthcare, transportation, agricultural value chains and others
- The agreements were signed as part of President Bola Tinubu’s state visit to France
The Nigerian and French governments have signed two agreements to invest €300 million in various financial and technical assistance programmes across the country.
The agreements include investment and development of critical infrastructure, healthcare, transportation, agricultural value chains, renewable energy, and human capital development.
This was disclosed in a statement signed by the Special Adviser to the President (Information and Strategy), Bayo Onanuga, on Friday, November 29.
The statement added that the agreements were signed by Nigerian President Bola Tinubu and French President Emmanuel Macron during an economic forum at the Palais des Élysée, attended by business leaders, industry captains, state governors, and top officials from both countries, as part of President Tinubu’s state visit to France.
It added that both countries pledged to foster a strategic relationship in project implementation, remove fiscal barriers and protect labour rights.
According to the Nigerian presidency, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Mr Antoine Armand, the French Minister of Economy, Finance and Industry, signed a Letter of Intent.
The statement read, “The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare, transportation, agricultural value chains, renewable energy, and human capital development, through diverse financial and technical assistance programs, of over €300 million, spread across all geopolitical zones in the country.
“The two countries committed to forging a strategic relationship in project implementation and enhancing mutual trade and cross-border services by removing fiscal barriers while protecting labour rights.”
FG signs agreement with AFD
The presidency also disclosed that Edun and the Chief Executive Officer of the French Development Agency (AFD), Mr Rémi Rioux, signed another Letter of Intent to support President Tinubu’s ‘Renewed Hope’ agenda reforms.
The document highlighted the relationship between the AFD and the Federal Government, noting the AFD’s commitment to supporting Nigeria’s socio-economic growth through financing sustainable projects in urban infrastructure development, transportation networks, housing, human capital development (with a focus on improving STEM education), agriculture, food security, and healthcare.
The document cited by the presidency read, “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-logistics hubs.
“Importantly, the AFD committed to supporting the real sector by providing capital to MSMEs in high-impact sectors.”
The Federal Government, on the other hand, reiterated its commitment to expediting the implementation of the projects.
Tinubu, Xi meeting to reach economic, bilateral agreements
Meanwhile, TheRadar reported that President Bola Ahmed Tinubu and President Xi Jinping of the People’s Republic of China led a meeting that was expected to lead to the signing of some economic and bilateral agreements.
The robust bilateral agreements between the two countries focus on crucial sectors, such as the green economy, agricultural advancement, satellite technology innovation, development and promotion of media enterprises, blue economic growth, and collaborative national planning efforts.
