The Federal Government has secured a €300million development partnership with France in critical sectors of the nation’s economy such as healthcare, transportation, and renewable energy.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun led the Federal Government’s delegation in signing two transformative agreements with the French Government and its development agency, AFD (Agence Française de Développement).
According to a statement issued by Director of information Mohammed Manga in the ministry, the agreements, collectively valued at over €300 million, are set to strengthen key sectors of Nigeria’s economy and drive sustainable development.
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 ceremony in France, Edun remarked that “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”.
Also, Edun, and the French Development Agency (AFD) Chief Executive Officer, Mr. Rémi Rioux, also signed an agreement to support Nigeria’s Renewed Hope Agenda aimed at economic stimulation through sustainable projects.
The AFD reaffirmed its dedication to long-term support for Nigeria’s energy access, sustainable agriculture, and food security initiatives, emphasising the importance of efficient project implementation.
The agreement guarantees AFD’s continued commitment to financing sustainable projects that align with President Bola Ahmed Tinubu’s Renewed Hope Agenda just as it prioritises the following sectors: 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.
