In a major step towards strengthening bilateral relations, Nigeria’s President Bola Tinubu and France’s President Emmanuel Macron signed two key agreements on Thursday in Paris, focusing on critical infrastructure development, agriculture, and long-term food security.
The agreements were finalized at an economic forum held at the Palais des Élysée, with prominent attendees, including business leaders, governors, and high-ranking officials from both nations, marking a significant moment in President Tinubu’s state visit to France.
As part of the agreements, United Bank for Africa (UBA) Group Chairman, Tony Elumelu, and France’s Minister of Economy, Finance, and Industry, Antoine Armand, signed a pact that will enable UBA to begin operations in Paris. Zenith Bank also launched its services in France, further expanding Nigeria’s financial presence in Europe.
Nigeria’s Minister of Finance, Wale Edun, and Minister Armand signed a Letter of Intent to strengthen investment in sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development. The collaboration is backed by a financial and technical assistance package exceeding €300 million, which will be distributed across Nigeria’s geopolitical zones.
The agreements aim to remove fiscal barriers and ensure labor rights are protected while fostering strategic cooperation in project execution.
Furthermore, Minister Edun and Rémi Rioux, CEO of the French Development Agency (AFD), signed a second Letter of Intent, aligning with Nigeria’s Renewed Hope Agenda. This partnership focuses on stimulating economic growth through sustainable projects in urban infrastructure, transportation, housing, education, agriculture, and healthcare. AFD has also pledged funding for agro-logistic hubs that will support energy access, sustainable agriculture, and MSMEs in Nigeria’s key sectors.
At a joint press conference with President Macron, President Tinubu reaffirmed Nigeria’s commitment to deepening collaboration with France, especially in food security, energy, solid minerals, education, and defense.
The agreements and initiatives marked a major highlight of President Tinubu’s three-day state visit, paving the way for stronger economic and developmental ties between the two nations.
