FRANCE: During President Bola Tinubu’s state visit to Paris, Nigeria and France solidified a partnership by signing two significant agreements aimed at advancing infrastructure development, agricultural sustainability, and food security.
The agreements were signed in the presence of both leaders President Tinubu of Nigeria and President Emmanuel Macron of France during an economic forum attended by business leaders, industry figures, governors, and government officials from both nations at the Palais des Elysée.
In a key development, United Bank for Africa (UBA) Chairman Tony Elumelu and Antoine Armand, the French Minister of Economy, Finance, and Industry, signed an agreement marking the launch of UBA’s operations in Paris. Zenith Bank also officially began its operations in France during the visit, strengthening Nigeria’s banking presence in the country.
Nigeria and France sign agreement as Zenith bank commences operation
The agreements highlight a commitment to collaboration on the development of critical infrastructure, healthcare, transportation, agriculture, renewable energy, and human capital. They include over €300 million in financial and technical assistance for projects across Nigeria’s geopolitical zones.
In addition, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Mr. Armand signed a Letter of Intent, emphasizing their shared goal of enhancing mutual trade, cross-border services, and removing fiscal barriers while safeguarding labor rights.
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Furthermore, a separate agreement was signed between Mr. Edun and Remi Rioux, CEO of the French Development Agency (AFD), to support Nigeria’s Renewed Hope Agenda. This initiative focuses on economic reforms aimed at bolstering sectors such as urban infrastructure, transportation, housing, education (particularly STEM), agriculture, and healthcare.
group photograph of Nigeria and France as Zenith bank signed agreement in Paris
The AFD pledged continued support for Nigeria’s socio-economic development, including financing sustainable projects in energy access, sustainable agriculture, and MSME support in high-impact sectors.
The agreements signify a strong, enduring partnership between the two nations, with both committing to the efficient and expedited implementation of projects.
