By Victoria Onyisi
The Federal Government says that it has secured a €300 million development partnership with France as part of agreement to bolster key sectors of Nigeria’s economy, including healthcare, transportation, and renewable energy.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the federal government delegation in signing two transformative agreements with the French government and its development agency, AFD (Agence Française de Développement).
The Director, Information and Public Relations, Mr. Mohammed Manga, in a statement said these agreements, collectively valued at over €300 million, are set to strengthen key sectors of Nigeria’s economy and drive sustainable development.
According to him, the Letter of intent, co-signed by Edun and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand, underscores a shared commitment to strategic investments in healthcare, transportation, Agricultural Value Chains, renewable energy, and human capital development
Speaking at the signing ceremony, Edun remarked that this partnership goes beyond financial support, adding that 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 added.
The statement added that the Minister and the French Development Agency (AFD) CEO, Rémi Rioux, also signed an agreement to support Nigeria’s Renewed Hope Agenda aimed at economic stimulation through sustainable projects.
The AFD, he said reaffirmed its dedication to long-term support for Nigeria’s energy access, sustainable agriculture, and food security initiatives, emphasizing the importance of efficient project implementation.
These MoUs the Minister said marks a pivotal step in Nigeria’s economic diplomacy. He said: “This agreement guarantees AFD’s continued commitment to financing sustainable projects that align with President Bola Tinubu’s Renewed Hope Agenda as it prioritises Urban Infrastructure, Transportation Networks, Education with a focus on STEM, Sustainable Agriculture, and Food Security as well as Healthcare Systems
“Additionally, AFD pledged support for Nigeria’s energy transition goals, agro-logistics hubs, and MSME financing, all aimed at fostering job creation and driving growth in high-impact sectors.
“With these agreements, Nigeria and France reaffirm their commitment to forging strong bilateral ties and investing in a future of shared prosperity.
“This historic partnership is a testament to the growing confidence of international partners in Nigeria’s economic reforms. As the country continues on its path to sustainable development, this agreement is poised to play a significant role in driving growth, creating jobs, and improving the lives of Nigerians.” The statement added.
