Nigeria gets €300m partnership funding from France for healthcare renewable energy, others
Nigeria on Friday secured a €300m partnership funding from France to boost development in key sectors of its economy.
Also, the funding would drive sustainable development as part of efforts to strengthen bilateral ties and drive development partnership with France.
The sectors of the economy the funding would be deployed include healthcare, transportation, and renewable energy.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, represented Nigeria at the signing of two transformative agreements with the French Government and its development agency, AFD (Agence Française de Développement).
The Letter of Intent, co-signed by Edun and France’s Minister of Economy, Finance, and Industry, Antoine Armand, underscores a shared commitment to strategic investments in healthcare, transportation, Agricultural Value Chains, renewable energy, and Human Capital Development
Speaking at the signing ceremony in France, Edun
said the *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. It
reinforces development diplomacy*
In a related development, 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.
“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 Bola Ahmed Tinubu’s Renewed Hope Agenda. It prioritises the following sectors: Urban Infrastructure, Transportation Networks, Education with a focus on science, technology, engineering and mathematics (STEM) , Sustainable Agriculture, and Food Security as well as Healthcare Systems,” a Finance Ministry statement said on Friday.
Also, AFD pledged support for Nigeria’s energy transition goals, agro-logistics hubs, and micro, small and medium enterprises (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.
“₦This historic partnership is a testament to the growing confidence of international partners in Nigeria’s economic reforms. As the country continues on its path to sustainable development, this agreement is poised to play a significant role in driving growth, creating jobs, and improving the lives of Nigerians,” the statement added.
