President Bola Tinubu and French President Emmanuel Macron formalized a partnership on critical infrastructure development and agricultural sustainability by signing two agreements in Paris on Thursday.
During the visit, the United Bank for Africa (UBA) announced its plans to commence full banking operations in France.
UBA Group Chairman Tony Elumelu signed the agreement with French Minister of Economy, Finance and Industry, Antoine Armand, in a ceremony highlighting the French government’s support for UBA’s expansion into the European market.
Elumelu emphasized that this move strengthens UBA’s mission to provide seamless international banking services across Africa and Europe.
Additionally, Zenith Bank launched its operations in France as part of this economic collaboration. The agreements were signed at an economic forum attended by business leaders and government officials from both nations at the Palais des Elysée.
The Letters of Intent outline commitments from both countries to collaborate on various sectors, including healthcare, transportation, renewable energy, and human capital development, with a financial backing of over €300 million distributed across Nigeria’s geopolitical zones.
The Nigerian Minister of Finance, Wale Edun, and the French Development Agency (AFD) CEO, 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, emphasizing the importance of efficient project implementation.
