President Bola Tinubu and French President Emmanuel Macron signed two landmark agreements in Paris on Thursday, fostering collaboration in critical infrastructure development, agriculture, and food security.
The agreements were formalized during President Tinubu’s state visit at an economic forum held at the Palais des Elysée, attended by top business leaders, government officials, and governors from both nations.
A key highlight of the forum was the expansion of Nigerian banking services in France. United Bank for Africa (UBA) Group Chairman Tony Elumelu and French Minister of Economy, Finance, and Industry Antoine Armand signed an agreement allowing UBA to commence operations in Paris. Zenith Bank also launched its services in the country during the visit.
Nigeria’s Finance Minister Wale Edun and Armand signed a Letter of Intent outlining a strategic partnership to drive investments in infrastructure, healthcare, transportation, renewable energy, agriculture, and human capital development. The agreement includes over €300 million in financial and technical assistance spread across Nigeria’s geopolitical zones.
The agreement also aims to enhance trade and cross-border services by removing fiscal barriers while ensuring the protection of labor rights.
Another agreement, signed by Edun and Chief Executive Officer of the French Development Agency (AFD) Remi Rioux, committed to supporting President Tinubu’s Renewed Hope Agenda. This agenda focuses on stimulating Nigeria’s economy through sustainable urban infrastructure projects, transportation networks, housing, and education, particularly in STEM fields.
The AFD pledged long-term support for initiatives in energy access and transition, sustainable agriculture, and the development of agro-logistic hubs. It also committed to providing capital for Micro, Small, and Medium Enterprises (MSMEs) in high-impact sectors.
The agreements reaffirmed a shared commitment to economic growth, sustainable development, and enhanced trade relations between Nigeria and France. Both nations expressed their dedication to ensuring the efficient implementation of the signed projects, heralding a new chapter in bilateral cooperation.
These developments underscore Nigeria’s position as a key partner in global economic initiatives and signal significant progress in strengthening ties with France
