PARIS, Nov. 29 – Nigeria and France have signed two significant agreements to accelerate infrastructure development and food security initiatives, while Nigerian banks Zenith Bank and United Bank for Africa (UBA) expand operations into France.
The agreements, finalized during President Bola Tinubu’s state visit to Paris, include a €300 million investment plan aimed at improving infrastructure, healthcare, transportation, agriculture, renewable energy, and human capital development in Nigeria. The details were disclosed by presidential spokesperson Bayo Onanuga on Friday.
Nigeria’s Finance Minister Wale Edun and French Economy Minister Antoine Armand signed a letter of intent to facilitate the investments. Both nations committed to simplifying trade and investment processes to ensure smoother implementation of joint projects.
A joint statement highlighted plans to remove fiscal barriers, protect labor rights, and strengthen trade and cross-border services.
Zenith Bank opened its Paris branch as part of the broader cooperation efforts, while UBA has secured approval from French authorities to establish its operations in the city, Onanuga confirmed.
