The agreements were finalized at an economic forum held at the Palais des Élysée, attended by business leaders, industry executives, state governors, and senior officials from both countries.
At the event, Tony Elumelu, Chairman of United Bank for Africa Group, and Antoine Armand, French Minister of Economy, Finance, and Industry, signed an agreement allowing UBA to commence operations in Paris. In a similar vein, Zenith Bank also inaugurated its services in France.
Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced these developments in a statement titled ‘Nigeria, France Sign Letters of Intent on Critical Infrastructure as Zenith Bank Opens Paris Branch.’
Furthermore, Nigeria's Minister of Finance, Mr. Wale Edun, and Mr. Armand signed a Letter of Intent that reaffirmed their commitment to investing in vital sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development. The financial and technical assistance package, exceeding €300 million, will be allocated across all geopolitical zones in Nigeria.
The agreements also emphasized both countries' commitment to nurturing a strategic partnership in project execution, eliminating fiscal obstacles, and safeguarding labor rights.
Additionally, Mr. Edun and Mr. Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to bolster Nigeria's Renewed Hope Agenda reforms aimed at promoting economic growth.
Nigeria's President Bola Tinubu and France's President Emmanuel Macron solidified two important agreements on Thursday in Paris, aimed at strengthening their partnership to improve critical infrastructure and ensure sustainable agricultural and food security.
These agreements were concluded during an economic forum at the Palais des Élysée, which saw participation from business leaders, industry executives, state governors, and high-ranking officials from both countries, coinciding with President Tinubu's official visit.
During the event, Tony Elumelu, Chairman of United Bank for Africa Group, and Antoine Armand, French Minister of Economy, Finance, and Industry, signed an agreement that allows UBA to commence operations in Paris. Similarly, Zenith Bank also launched its services in France.
Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, shared these updates in a statement titled ‘Nigeria, France Sign Letters of Intent on Critical Infrastructure as Zenith Bank Opens Paris Branch.’
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| L-R: Brigitte Macron, President Bola Tinubu, Emmanuel Macron and Senator Oluremi Tinubu during the state visit to France |
In addition, the Minister of Finance of Nigeria, Mr. Wale Edun, and Mr. Armand executed a Letter of Intent, reaffirming their commitment to investing in crucial sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development. A financial and technical assistance package surpassing €300 million will be distributed across all geopolitical zones in Nigeria.
Furthermore, the agreements emphasized the dedication of both nations to establishing a strategic partnership in project implementation, eliminating fiscal barriers, and safeguarding labor rights.
Additionally, Mr. Edun and Mr. Rémi Rioux, the Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to support Nigeria's Renewed Hope Agenda reforms, which aim to stimulate economic growth.