Nigeria, France Commit to Infrastructure Development, Food Security
President Bola Tinubu and French President Emmanuel Macron have signed agreements on the development of critical infrastructure and the long-term sustenance of agriculture and food security.
On November 27, Tinubu left Nigeria for Paris for a three-day state visit.
In a statement on Friday, Bayo Onanuga, special adviser to the president on information and strategy, said two partnership agreements were signed at an economic forum in Paris.
According to Onanuga, Wale Edun, minister of finance and coordinating minister of the economy and Antoine Armand, French minister of economy, finance and industry, signed the first 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 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.
