.As Tinubu returns from France, South Africa trips
President Bola Tinubu, on Wednesday night, returned to Nigeria after state visit to France and a trip to South Africa for the Nigeria- South Africa Bi- National Commission Summit, with both engagements seen as catalysts for new regional cooperation.
French President, Emmanuel Macron, took advantage of the visit to strengthen French interests in the West African subregion, following the country’s shrinking influence in Niger and other countries who are Nigeria’s neighbours
President Bola Tinubu’s engagements in France witnessed the signing of about €300m agreements that will help strengthen Nigeria’s infrastructures, boosting economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition.
Tinubu had departed Abuja on Wednesday, November 27, accompanied by his Wife, Oluremi, for the state visit to France in honour of an invitation from President Emmanuel Macron.
The president had, during one of the dialogues with Macron at the Palais des Élysée, promised to reduce the number of Nigeria’s over 20 million out-of-school children through innovative return-to-class initiatives and skills development programmes.
President Tinubu highlighted the government’s ongoing efforts to create a supportive framework that ensures school-age children re-enter classrooms, emphasising the role of motivation and skill acquisition in this initiative.
“In order to bridge the gap for some who are of age, and have been out of school for a while, we will encourage skills development,” the President noted.
“insecurity in some parts of the country makes it hard for children to return to school, but we are gradually re-populating the classrooms,” he said, noting that “We need skills development to bridge the gaps.”
At a joint press conference, President Tinubu highlighted the vast, yet largely untapped potential within Nigeria’s agricultural sector and beckoned international investors to capitalise on the nation’s welcoming investment climate.
BusinessDay gathered that the visit also boosted business opportunities for French- Nigeria Business Forum, with the United Bank of Africa and the Zenith Bank going for opportunities to strengthen their expansion in France.
Tinubu informed French entrepreneurs that Nigeria’s flourishing financial sector remains a big facilitator for foreign investment, particularly from French enterprises, as part of the drive to bolster food security.
“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.
“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.
“In addition to the economic prospects and what you mean to Europe, to America and the African continent, there is a good prospect that you will not forget who we are. You open your doors for investment for our friends and brothers here. I could see Aliko Dangote, Aig Imoukhuede, and Tony Elumelu here. You have memories of your friends in Nigeria. You asked for Mike Adenuga earlier today. Thank you,” he added.
Macron, in his response, acknowledged Nigeria’s leadership in Africa, recognising its role as a ‘big brother’ to the continent.
Both presidents later witnessed signing of two agreements on Thursday in Paris, France, that would ensure a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security.
They also witnessed the signing of the agreement by Tony Elumelu, the United Bank for Africa (UBA) group chairman and Antoine Armand, French minister of economy, finance and industry 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 some top government officials of both countries at the Palais des Elysée in Paris, France, during President Tinubu’s state visit.
According to documents, ”The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare transportation, agricultural value chain, renewable energy, and human capital development, through diverse financial and technical assistance programmes, of over Euros 300m spread across all geopolitical zones in the country.
“The two countries committed to forge a strategic relationship in project implementation and enhance mutual trade and cross border services by removing fiscal barriers while protecting labour rights.”
Wale Edun, minister of finance and coordinating minister of the economy, and Remi Rioux, chief executive officer of the French Development Agency (AFD), signed another Letter of Intent to support the ‘Renewed Hope Agenda’ reforms designed to stimulate and strengthen the economy.
“The Declaration sets out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to support the socio-economic growth of Nigeria through financing sustainable projects in urban infrastructure development, transportation network, housing infrastructure, human capital development through improved education specifically in STEM, agriculture, food security and healthcare.
“The AFD reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr President on energy access and transition, sustainable agriculture and food security by financing the improvement of agro-logistic hubs. Importantly, the AFD committed to supporting the real sector by providing capital from MSME in high-impact sectors.
“The Federal Republic of Nigeria also affirmed its support for the projects financed by the AFD and committed to ensure that the implementation of the projects are expedited efficiently.”
Peter Mbah, Enugu State governor, in his assessment of the visit, described it as a “significant step toward strengthening bilateral relations and opening new opportunities for subnational governments.”
Mba, who represented the subnational governments at the visit, emphasised the importance of such high-level engagements in driving growth and development at both national and state levels.
“This visit demonstrates the strong relationship between Nigeria and France. It’s not just about diplomacy; it’s also about creating opportunities for states like ours to explore trade, investment, and development partnerships,” he said.
Mbah highlighted ongoing collaborations with France’s development finance institution, Agence Française de Développement (AFD), which he said, was already partnering with the state to expand Enugu’s urban water scheme.
Analysts say Nigeria’s relationship with France could produce a string force that would support the country’s and West Africa’s growth.
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