The federal government of Nigeria has entered into a €300 million development partnership with France to advance key sectors of the economy, including healthcare, transportation, renewable energy, and sustainable agriculture.
The agreement, signed by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand, alongside the French Development Agency (AFD), shows a shared vision for economic growth and sustainable development.
The partnership, sealed in France, includes two critical agreements aimed at driving President Bola Ahmed Tinubu’s Renewed Hope Agenda. Speaking at the signing ceremony, Mr. Edun noted the broader significance of the collaboration.
“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 stated.
The agreements include a Letter of Intent co-signed by Edun and Armand, and a dedicated AFD commitment to fund initiatives that address Nigeria’s critical development needs.
The agreements prioritize investments in the following sectors: Urban Infrastructure and Transportation Networks designed to enhance connectivity and mobility across Nigeria
Others are Healthcare Systems to strengthen service delivery to improve access and outcomes; Renewable Energy to support Nigeria’s energy transition and expanding access to sustainable energy solutions.
There is also Sustainable Agriculture and Food Security initiative to boost agricultural value chains and ensuring food security and education, with a STEM Focus to promote science, technology, engineering, and mathematics to drive innovation and human capital development.
AFD’s CEO, Rémi Rioux, gave the assurance of the agency’s long-term commitment to Nigeria’s development, aligning with the government’s Renewed Hope Agenda. AFD pledged to support projects in energy access, agro-logistics hubs, MSME financing, and sustainable urban infrastructure. These initiatives are expected to foster job creation, improve livelihoods, and stimulate economic growth.
The agency also noted the importance of efficient project implementation to maximize the impact of these investments.
The partnership reflects the growing strength of Nigeria-France relations, emphasizing mutual commitment to sustainable development. The agreements guarantee AFD’s continued support for Nigeria’s transformative projects, fostering shared prosperity.
