The Federal Government of Nigeria, led by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has secured two major agreements with the French Government and its development agency, the Agence Française de Développement (AFD).
Together valued at over €300 million, the agreements aim to enhance critical sectors of Nigeria’s economy and support sustainable development initiatives.
The agreements were formalized in a signing ceremony attended by Mr. Edun and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand.
The first agreement, a Letter of Intent, highlights the commitment of both nations to strategic investments in key sectors, including healthcare, transportation, agricultural value chains, renewable energy, and human capital development.
Mr. Edun emphasized that the partnership represents more than just financial backing, underscoring that it is a step towards building resilient and sustainable systems that will drive long-term development in Nigeria.
“This partnership 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 during the ceremony.
The second agreement, a Declaration of Intent with AFD, solidifies France’s continued role in supporting Nigeria’s economic agenda under President Bola Tinubu’s Renewed Hope initiative.
This agreement focuses on financing projects in urban infrastructure, transportation networks, education—particularly in STEM fields—agriculture, food security, and healthcare systems.
AFD’s pledge to back Nigeria’s energy transition goals, agro-logistics hubs, and micro, small, and medium enterprises (MSMEs) financing further strengthens the bilateral relationship.
The agreements aim to foster job creation and economic growth across several high-impact sectors, positioning Nigeria as a leader in sustainable development within Africa.Both countries are optimistic that these initiatives will enhance cooperation and create new opportunities for shared prosperity in the coming years.
The partnerships also reflect Nigeria’s growing engagement in economic diplomacy as it seeks to attract global support for its ambitious development agenda.
