Nigeria, France To Invest €300m In Agriculture, Transportation, Others

President Bola Tinubu and French President Emmanuel Macron signed two agreements on Thursday in Paris, France, that will ensure a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security.

Earlier, both leaders witnessed the signing of the agreement by the United Bank for Africa (UBA) group chairman, Tony Elumelu and  Mr. the French Minister of Economy, Finance and Industry, Antoine Armand, for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

According to a statement by presidential spokesman, Bayo Onanuga, the partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors and some top government officials of both countries at the Palais des Elysée in Paris, France, during President Tinubu’s state visit.

Nigeria’s minister of finance and coordinating minister of the economy, Mr. Wale Edun and Mr. Armand signed the Letter of Intent.

“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 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 statement said.

Edun and chief executive officer of the French Development Agency, Mr. Remi Rioux, signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.