In a significant step towards bolstering Nigeria’s economy, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has signed two transformative agreements with the French Government and its development agency, Agence Française de Développement (AFD). Valued at over €300 million, these agreements focus on advancing critical sectors, fostering sustainable development, and strengthening bilateral relations between Nigeria and France.
Strategic Focus on Key Sectors
The agreements, co-signed by Mr. Edun and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand, underscore a shared vision for strategic investments in:
• Healthcare
• Transportation
• Agricultural Value Chains
• Renewable Energy
• Human Capital Development
During the signing ceremony, Mr. Edun highlighted the broader impact of the partnership, stating:
“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.”
Deepening Economic Diplomacy
One of the agreements, a Declaration of Intent with AFD, underscores a sustained commitment to financing sustainable development initiatives aligned with President Tinubu’s Renewed Hope Agenda. Key focus areas include:
• Urban Infrastructure Development
• Improvement of Transportation Networks
• Education, with Emphasis on STEM
• Agriculture and Food Security
• Healthcare System Strengthening
Additionally, AFD committed to supporting Nigeria’s energy transition, developing agro-logistics hubs, and expanding financing for Micro, Small, and Medium Enterprises (MSMEs). These initiatives are aimed at fostering job creation and stimulating growth in high-impact sectors.
Building a Future of Shared Prosperity
This partnership highlights Nigeria’s growing influence in global economic diplomacy and reflects France’s confidence in the nation’s ongoing reforms. The agreements are expected to drive sustainable development and reaffirm the long-standing ties between the two nations.
As Nigeria and France move forward with these agreements, they set the stage for a future defined by collaboration, innovation, and shared prosperity.
