Nigeria’s President Bola Tinubu and French President Emmanuel Macron have signed two key agreements in Paris, marking a significant milestone in the countries’ bilateral relations. The agreements, signed during an economic forum at the Palais des Élysée, aim to develop critical infrastructure and ensure long-term agriculture and food security.
The forum, attended by business leaders, industry captains, state governors, and top officials from both countries, was part of President Tinubu’s three-day state visit to France. During the event, United Bank for Africa (UBA) Group Chairman, Tony Elumelu, and French Minister of Economy, Finance, and Industry, Antoine Armand, signed an agreement enabling UBA to begin operations in Paris. Zenith Bank also launched its services in France.
The agreements signed by President Tinubu and President Macron reaffirm commitments to investments in critical sectors, including healthcare, transportation, agriculture, renewable energy, and human capital development. The financial and technical assistance package is worth over €300m and will be distributed across all of Nigeria’s geopolitical zones.
Nigeria’s Minister of Finance, Mr. Wale Edun, and Mr. Armand signed a Letter of Intent outlining both countries’ pledge to foster a strategic relationship in project implementation, remove fiscal barriers, and protect labor rights.
Additionally, Mr. Edun and Mr. Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to support Nigeria’s Renewed Hope Agenda reforms aimed at stimulating economic growth. The declaration underscored AFD’s ongoing support for Nigeria’s socio-economic development, focusing on sustainable projects in urban infrastructure, transportation networks, housing, education in STEM, agriculture, food security, and healthcare.
