Nigerian President Bola Tinubu and French President Emmanuel Macron have formalised agreements aimed at enhancing critical infrastructure and ensuring long-term agricultural development and food security.
Gatekeepers News reports that Tinubu is on a three-day state visit to Paris. The two partnership agreements were signed at an economic forum in the French capital.
Bayo Onanuga, the special adviser to President Tinubu on information and strategy, provided details about the agreements in a statement released on Friday.
The first letter of intent was signed by Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, along with Antoine Armand, the French Minister of Economy, Finance, and Industry.
“The two countries affirmed their commitment to work 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 300m spread across all geopolitical zones in the country,” the first letter reads.
“The two countries committed to forge a strategic relationship in project implementation and enhance mutual trade and cross border services by removing fiscal barriers while protecting labour rights.”
The president’s spokesperson also said Edun and Remi Rioux, chief executive officer of the French Development Agency (AFD), signed another letter of intent to support the ‘Renewed Hope Agenda’ reforms designed to stimulate and strengthen the economy.
“The Declaration, set out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to support 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 second letter reads.
“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.
“Importantly, the AFD committed to supporting the real sector by providing capital from (sic) 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.”
Onanuga added that Tinubu and Macron had earlier witnessed the signing of an agreement by Tony Elumelu, group chairman of United Bank for Africa (UBA) and Armand for the bank to commence full operations in Paris.
Onanuga also said Zenith Bank also inaugurated its services in the country during the visit.
