President Bola Tinubu and his French counterpart President Emmanuel Macron signed two key agreements on Thursday in Paris, cementing a partnership to develop critical infrastructure and sustain long-term agriculture and food security.
The agreements were signed during an economic forum at the Palais des Élysées, attended by business leaders, industry captains, state governors, and top officials from both countries, as part of Tinubu’s state visit.
During the event, United Bank for Africa Group Chairman Tony Elumelu and French Minister of Economy, Finance, and Industry, Antoine Armand, signed an agreement to enable UBA to begin operations in Paris.
In the same vein, Zenith Bank launched its services in France.
The agreements were inked at an economic event at the Palais des Élysées during Tinubu’s state visit, which was attended by business executives, industry captains, state governors, and top officials from both nations.
During the event, Tony Elumelu, Chairman of the United Bank for Africa Group, and Antoine Armand, French Minister of Economy, Finance, and Industry, signed an agreement allowing UBA to start operations in Paris. Similarly, Zenith Bank began offering services in France.
Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced these events in a statement headlined ‘Nigeria, France Sign Letters of Intent on Critical Infrastructure as Zenith Bank Opens Paris Branch.’
Mr. Wale Edun, Nigeria’s Minister of Finance, and Mr. Armand signed a letter of intent to reaffirm their commitment to investing in important sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development.
The financial and technical support package, totalling more than €300 million, would be divided across all of Nigeria’s geographical zones.
The declaration also emphasised both countries’ commitment to fostering a strategic partnership in project implementation, eliminating budgetary hurdles, and protecting worker rights.
Also, Edun and Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to support Nigeria’s Renewed Hope Agenda reforms aimed at stimulating economic growth.
The declaration emphasised AFD’s continuous support for Nigeria’s socioeconomic growth, with a focus on sustainable projects in urban infrastructure, transportation networks, housing, STEM education, agriculture, food security, and healthcare.
AFD also promised to sponsor agro-logistic hubs to promote energy access, sustainable agriculture, and MSMEs in high-impact industries. Nigeria, in turn, pledged to expedite the efficient implementation of these projects.
Tinubu emphasised Nigeria’s commitment to improving collaboration in areas including food security, energy, solid minerals, education, and defence during a joint news conference with Macron.
The activities were major milestones in Tinubu’s three-day state visit to France.
