Nigeria, France Seal €300M Deal for Economic Development
…Nigeria Secures €300 Million French Partnership for Development
The Federal Government of Nigeria has entered a landmark €300 million development partnership with France, poised to transform critical sectors of the nation’s economy.
The agreement, formalised by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand, marks a significant step in strengthening bilateral relations between the two nations.
In a statement released following the signing ceremony, Mr. Edun emphasised the multifaceted nature of the partnership. “This goes beyond financial support. It is about building robust, sustainable systems that foster development and empower Nigerians. It reflects the confidence of international partners in the progress of Nigeria’s economic reforms,” he said.
The agreement is underpinned by two pivotal documents: a Letter of Intent with the French Government and a Declaration of Intent with Agence Française de Développement (AFD). These agreements focus on strategic investments in healthcare, transportation, agriculture, renewable energy, and human capital development.
The AFD’s commitment includes financing for urban infrastructure, transportation networks, and educational initiatives, with a special emphasis on STEM education and food security. Moreover, the agency pledged support for Nigeria’s energy transition goals and the establishment of agro-logistics hubs, alongside boosting MSME financing to foster job creation and economic growth.
The collaboration aligns closely with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises reforms aimed at sustainable development and inclusive growth.
“Nigeria and France are building a future of shared prosperity through these strategic partnerships,” the statement concluded.
The partnership reaffirms Nigeria’s growing role on the global stage as a nation committed to innovative economic reforms and sustainable progress. Hitman’s Chilling Plot to Silence Montreal Journalist
