Tinubu, Macron commit to over €300 million financial and technical assistance programs across Nigeria

This was disclosed in a statement signed by Bayo Onanuga, Special Adviser to the President (Information & Strategy), on Friday, November 29, 2024. 

The commitment is part of two agreements signed by the counterparts on Thursday in Paris, France, aimed at fostering a partnership focused on the development of critical infrastructure and the long-term sustenance of agriculture and food security. 

The document, cited by the presidency, reads:   

“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 two countries committed to forging a strategic relationship in project implementation and enhancing mutual trade and cross-border services by removing fiscal barriers while protecting labor rights.” 

“The AFD reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr. President on energy access and transition, sustainable agriculture, and food security by financing the improvement of agro-logistics hubs. Importantly, the AFD committed to supporting the real sector by providing capital to MSMEs in high-impact sectors,” the presidency quoted the document as stating. 

On the part of the Federal Government, it affirmed its support for the projects financed by the AFD and committed to ensuring that the implementation of the projects is expedited efficiently. 

Earlier, Tinubu and Macron witnessed the signing of the agreement by United Bank for Africa (UBA) Group Chairman Tony Elumelu and the French Minister of Economy, Finance, and Industry for the bank to open a branch in Paris. 

Zenith Bank was said to have inaugurated its services in the country during the state visit.