Nigeria Secures €300 Million Development Deal with France to Boost Key Sectors

The Federal Government of Nigeria has entered into a €300 million development partnership with France, for strengthening critical sectors such in healthcare, transportation, renewable energy, agriculture, and human capital development. The agreement is a major step in bolstering bilateral ties and advancing Nigeria’s sustainable development goals.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the Nigerian delegation in signing two key agreements with the French Government and Agence Française de Développement (AFD) during a ceremony in France.
Director of Information and Public Relations, Muhammed Manga in a statement indicated that the agreements aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda adding that it reflected Nigeria’s commitment to comprehensive economic reforms.

The partnership will channel investments into enhancing access to quality medical care and improving urban infrastructure and connectivity.
It will also support Nigeria’s energy transition, Promote food security, sustainable farming practices and focuse on STEM to boost human capital.

Edun who lauded the collaboration, not that the partnership goes beyond financial assistance.
“It is about creating robust, sustainable systems that drive development and empower Nigerians. It reflects the trust our international partners have in Nigeria’s reform efforts.”
AFD CEO Rémi Rioux reiterated the agency’s dedication to supporting Nigeria’s development through long-term financing of sustainable projects. The agreement emphasized Urban Infrastructure Development, Support for MSMEs and Agro-logistics Hubs and Energy Access Expansion
Rioux emphasized that the partnership will aid in fostering job creation and enhancing Nigeria’s economic resilience through strategic investments.
The signing of the agreements, the statement said marked a critical milestone in Nigeria’s economic diplomacy, ensuring continued international support for its growth agenda.
The €300 million partnership is an acknowledgement of the growing confidence in Nigeria’s economic trajectory and commitment to sustainable development.