President Bola Tinubu|President Emmanuel Macron

Folashade Adeniran
Nov, Fri, 2024

Nigeria, France sign letters of intent on critical infrastructure

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By Salif Atojoko

President Bola Tinubu and French President Emmanuel Macron signed two landmark agreements in Paris, France, focusing on the development of critical infrastructure and long-term sustenance of agriculture and food security.

The agreements reaffirm the commitment of both countries to work together on investment and development of critical infrastructure, healthcare transportation, and agricultural value chain.

The partnership will also explore cooperation in renewable energy and human capital development through diverse financial and technical assistance programmes, totaling over 300 million euros, spread across all geopolitical zones in Nigeria.

Mr Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, and Mr Antoine Armand, France’s Minister of Economy, Finance, and Industry, signed a Letter of Intent, Mr Bayo Onanuga, Special Adviser to the President, Information and Strategy, said in a statement.

The agreement aims to enhance mutual trade and cross-border services and remove fiscal barriers while protecting labour rights.

Additionally, Edun and Mr Rémi Rioux, Chief Executive Officer of the French Development Agency (AFD), signed another Letter of Intent to support Nigeria’s Renewed Hope Agenda.

This agreement focuses on stimulating and strengthening the economy through sustainable projects in urban infrastructure development, transportation networks, housing infrastructure, human capital development, agriculture, food security, and healthcare.

“The AFD reaffirmed its commitment to supporting Nigeria’s socio-economic growth, particularly in energy access and transition, sustainable agriculture, and food security.

“The agency will provide financing for agro-logistic hubs and support the real sector by providing capital to micro, small, and medium-sized enterprises (MSMEs) in high-impact sectors.”

Earlier, Tinubu and Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman Tony Elumelu and Armand, for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

The partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors, and top government officials from both countries.

The event took place at the Palais des Elysée in Paris, France, during President Tinubu’s state visit. (NAN) (www.nannews.ng)

Edited by Abiemwense Moru

Folashade Adeniran
Nov, Fri, 2024

General News

Nigeria’s reforms will impact Africa – Tinubu

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By Salif Atojoko

President Bola Tinubu said late Thursday that the reforms embarked upon by his government would improve Africa’s economic prospects.

A statement by Mr Bayo Onanuga, the President’s Special Adviser, Information and Strategy, indicated that Tinubu said this at State Dinner organised by the French government in his honour at Palais des Elysée in Paris.

“Regarding Nigeria’s economy, we have embarked on a comprehensive reform, and there is no looking back.

“It is in the interest of the entire continent that we don’t continue in the past.

“We must brace up for the future with commitment and optimism. And with the courage of our founding fathers.

“President Macron, all your efforts about Africa, I promise you shall not be in vain,” he said.

Tinubu lauded French President Emmanuel Macron for his interest in Africa, which he said would foster stronger bilateral ties to benefit the entire continent.

He encouraged both Nigerian and French citizens to uphold the cordial relationship shared by their nations.

“It is a great honour for me to be here. And it’s been a great day because you have arranged a great reception.

“Appreciating that you have a good knowledge of Nigeria is not enough. Your warmth, your commitment, and your foresight in Africa are remarkable.

“You stirred my excitement and caught my attention as a leader. Thank you.

“France went through a lot to put freedom, democracy, and commitment together. Your effort is very inspiring for us to work together.

“We have no choice but to build a continent that connects, resonates for its people, and cares about the people and development,” President Tinubu said.

In his remarks, Macron acknowledged Nigeria’s leadership in Africa, recognising its role as a ‘big brother’ to the continent.

He praised Nigerians for being resilient and intelligent, mentioning Nobel Laureate Prof. Wole Soyinka and musician Femi Kuti as global figures.

“Nigeria is a formidable country with talented young people. Many Nigerians are exceptional in their chosen careers.

“You conquered military rule and took your liberty. President Tinubu transformed the economy in Lagos, and now you are on a mission to transform the country,” he added.

Macron noted that French investors had long been active in Nigeria, particularly in oil, gas, construction, and food security.

He also highlighted opportunities in solid minerals, emerging technologies, and the film industry.

“Nigeria and France will continue to lead together, forging a path forward,” President Macron concluded. (NAN) (www.nannews.ng)

Edited by Emmanuel Yashim

Folashade Adeniran
Nov, Thu, 2024

General News

Tinubu urges increased investments in food security, solid minerals, others

146 total views today

By Salif Atojoko

President Bola Tinubu on Thursday affirmed Nigeria’s commitment to enhancing cooperation in key sectors such as food security, energy, solid minerals, education, and defense during a meeting with President Emmanuel Macron.

At a joint news conference in Paris, France, Tinubu highlighted the vast, yet largely untapped potential within Nigeria’s agricultural sector and urged international investors to capitalise on the nation’s welcoming investment climate.

“The French- Nigeria Business Forum is doing a lot already, but we need to do more on food security. We cannot help but invest in another’s country,” he said.

Tinubu emphasised Nigeria’s flourishing financial sector as a facilitator for foreign investment, particularly from French enterprises, as part of the drive to bolster food security, Mr Bayo Onanuga, the President’s spokesman, said in a statement.

“Nigeria’s financial sector is evolving and flourishing. We are also creating grounds for investment in Nigeria’s economy for French nationals, especially in the area of food security.

“It is our responsibility to put together a food security programme for the private sector to come and invest in the country.

“We are working on stability and we are getting closer and closer, but we can do better and better,” the President stated.

Tinubu said Nigeria’s economy was being repositioned for more Foreign Direct Investment that would impact the livelihood of the citizens.

“I can assure you that Nigeria is open for business and close to this, we have a vibrant youth population that is educated, and ready to be trained in various areas of entrepreneurship and development,” he said.

The President implored the French government to extend to Nigeria trainings that would develop the youthful population.

“Furthermore, we should de-risk the opportunities in the solid minerals. We have the potentials and we have agreed on a deeper and deeper relationship,” the President said.

He noted that Nigeria, like most African nations, had been preoccupied with tackling issues of food security.

“A starved nation will not care about weather or environment, and in the 21st Century no child should go to bed hungry.

“If an African child is given a glass of milk in a class, there will be no problem in getting him to return and stay in school to learn. The more educated the children are, the better it is for us,” said Tinubu.

On security, he noted that there was need for collective responsibility to fight terrorism.

“Nigeria is a partner in progress. We are ready to partner with France so that we can have security operations that will stop the challenge of migration,” he noted.

The President said the blue economy in Nigeria also provided a huge opportunity for investment, with unexplored potential in fishery.

“We want to assure the French investment community that Nigeria is open for business. It shall be easy in, and easy out,” the President noted.

Macron acknowledged Tinubu’s state visit as a milestone heralding deeper bilateral relationships, particularly emphasising collaborative growth in creative industries and youth-focused initiatives.

The French President noted that the global humanitarian challenges could only be solved with governments working together.

“We have confidence that you, Mr President will reinforce our relationship with Nigeria, and it will cover the West Coast region, with ECOWAS playing the leading role.

“I will seek your leadership to work as partners of progress. You are the great leader of the great country in Africa.

“We appreciate your visionary leadership and energy in transforming the economy of your country. We will work together for collective, global success,” he said.

Macron had earlier assured that he would encourage more investments in the solid minerals sector, with the signing of an agreement, during a meeting where Mr Dele Alake, the Minister of Solid Minerals Development, made a presentation.

Earlier, President Tinubu and his wife, Sen. Oluremi Tinubu, were welcomed with full honours at Hotel Les Invalides and Palais De l’Élysée by President Macron and his wife, Brigitte Macron. (NAN) (www.nannews.ng)

Edited by Vivian Ihechu