Nigeria and France have entered into a strategic partnership to bolster critical infrastructure and ensure food security through the signing of two key letters of intent.
President Bola Tinubu’s spokesperson, Bayo Onanuga in a statement on Friday said the collaboration was formalised during the President’s state visit to Paris, where he met with French President Emmanuel Macron at the Palais des Elysée.
The agreements, signed by top government officials and business leaders, promise over €300 million in financial and technical assistance spread across Nigeria’s geopolitical zones.
The focus areas include healthcare, transportation, renewable energy, agriculture, and human capital development.
During the visit, President Tinubu and President Macron witnessed a landmark moment as the United Bank for Africa (UBA) took its first step into France.
UBA Group Chairman Tony Elumelu and French Economy Minister Antoine Armand formalized the agreement to establish UBA’s Paris operations.
Zenith Bank also inaugurated its services in Paris, marking another milestone in Nigerian-French financial ties.
Nigeria’s Minister of Finance, Wale Edun, and Antoine Armand signed the primary Letter of Intent, committing both nations to collaborate on critical infrastructure projects.
These include urban development, transportation networks, and renewable energy initiatives. The agreement also aims to enhance cross-border trade and remove fiscal barriers while upholding labour rights.
READ ALSO: Tinubu: Nigeria’s reforms will transform Africa
A second letter of intent was signed between Minister Edun and the Chief Executive Officer of the French Development Agency (AFD), Remi Rioux.
The AFD pledged long-term support for President Tinubu’s Renewed Hope Agenda, focusing on energy access, sustainable agriculture, and STEM education.
Commitments were made to improve agro-logistics hubs and support Nigeria’s micro, small, and medium enterprises (MSMEs) in high-impact sectors.
The agreements underscore a shared commitment to fostering socio-economic growth, advancing sustainable agriculture, and enhancing trade relations.
Both nations emphasised the importance of implementing these projects efficiently to maximize impact.
With this development, the presence of Nigerian banks like Zenith and UBA in Paris signals stronger economic ties and increased opportunities for cross-border financial services.
