Nigeria, France sign €300m agric, infrastructure investments pact

Agency Report

President Bola Ahmed Tinubu of Nigeria and French President Emmanuel Macron have pledged to engage in financial and technical assistance programs worth over €300 million to support key investments in Nigeria.

This announcement was made in a statement signed by Bayo Onanuga, Special Adviser to the President.

The commitment is as a result of agreements signed between the leaders on Thursday, November 28, in Paris, aimed at fostering a partnership focused on the development of vital infrastructure and the long-term sustainability of agriculture and food security in Nigeria.

The Nigerian presidency stated that the agreements were formalized with the signing of a Letter of Intent by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and French Minister of Economy, Finance, and Industry, Mr. Antoine Armand.

The letter outlines several key investment areas in Nigeria’s sectors, as stated by the presidency.

“The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare, transportation, agricultural value chains, renewable energy, and human capital development, through diverse financial and technical assistance programs, of over €300 million, spread across all geopolitical zones in the country,” the letter stated.