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‘FG secure €300 million development partnership with France’

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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the Federal Republic of Nigeria in signing two transformative agreements with the French Government and its development agency, AFD (Agence Française de Développement). These agreements, collectively valued at over €300 million, are set to strengthen key sectors of Nigeria’s economy and drive sustainable development.

 

Nigeria's Minister of Economy, Mr. Wale Edun and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand co-sign Letter of Intent
Nigeria’s Minister of Economy, Mr. Wale Edun and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand co-sign Letter of Intent

Strategic Focus Areas

 

The Letter of Intent, co-signed by Mr. 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
  • Human Capital Development
Speaking at the signing ceremony, HM Edun remarked:
 
“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.”
 
Reinforcing Development Diplomacy
 
The Declaration of Intent signed with AFD marks a pivotal step in Nigeria’s economic diplomacy. This agreement guarantees AFD’s continued commitment to financing sustainable projects that align with President Tinubu’s Renewed Hope Agenda. It prioritises the following sectors:
  • Urban Infrastructure
  • Transportation Networks
  • Education, with a focus on STEM
  • Agriculture and Food Security
  • 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.

FG Secures €300 Million Development Partnership with France

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the Federal Republic of Nigeria in signing two transformative agreements with the French Government and its development… pic.twitter.com/RnLPM88ZbX

— Federal Ministry of Finance (@FinMinNigeria) November 29, 2024

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