In a landmark diplomatic move, Nigeria’s President Bola Ahmed Tinubu and France’s President Emmanuel Macron signed two key agreements on Thursday in Paris, solidifying a partnership aimed at transforming critical infrastructure and securing sustainable agriculture and food systems.
The agreements, signed during an economic forum at the Palais des Élysée, were witnessed by business leaders, state governors, and top officials from both nations.
The event was a highlight of President Tinubu’s state visit to France, reflecting strengthened bilateral ties and a shared vision for economic growth.
In a major development, United Bank for Africa (UBA) Chairman Tony Elumelu and France's Minister of Economy, Finance, and Industry Antoine Armand formalized an agreement to pave the way for UBA’s entry into the Paris financial market.
Similarly, Zenith Bank launched its operations in France, marking a significant milestone for Nigerian banks in Europe.
Nigeria’s Minister of Finance, Mr. Wale Edun, signed a Letter of Intent with Minister Armand committing both nations to a €300 million investment package.
The funds will target critical sectors such as healthcare, transportation, renewable energy, agriculture, and human capital development, ensuring impact across Nigeria's six geopolitical zones.
The agreement also emphasized removing fiscal barriers, protecting labor rights, and expediting the implementation of development projects.
In another strategic move, Mr. Edun and Mr. Rémi Rioux, CEO of the French Development Agency (AFD), signed an agreement supporting Nigeria’s "Renewed Hope Agenda" reforms.
This collaboration focuses on urban infrastructure, STEM education, sustainable agriculture, and food security, with AFD pledging support for agro-logistic hubs and MSMEs in key sectors.
At a joint press conference, President Tinubu highlighted the importance of the agreements for Nigeria’s long-term development, emphasizing cooperation in energy, food security, solid minerals, education, and defense.
President Macron reaffirmed France’s commitment to strengthening its partnership with Nigeria, calling the collaboration a “gateway to a mutually prosperous future.”
The forum and agreements capped off President Tinubu’s three-day state visit to France, heralding a new era of strategic cooperation between the two nations.
This milestone is expected to foster economic growth, improve infrastructure, and secure food systems for future generations.