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Nigeria And France Sign $475 Million Agreement

Nigeria and France on Tuesday in Abuja signed three agreements worth 475 million dollars on social amenities and reforestation.

President Muhammadu Buhari and the visiting French President Emmanuel Macron witnessed the signing of the agreements during their bilateral talks held at the Presidential Villa, Abuja.

The Lagos agreement involved a letter of intent for the financing of urban mobility improvement project through a loan of 200 million dollars. The urban mobility project will involve development of eight priority bus corridors connected to the Lagos mass transit network.

In Ogun, a French firm in conjunction with the Nigeria Sovereign Investment Authority is to mobilise from investors about 200 million dollars for land reclamation to correct the massive degradation of arable land being witnessed in the state.

France, through its foreign development agency, Whence Francaise de Development (AFD), will also extend a credit facility of 75 million dollars towards improving water supply in Kano city.

The two presidents pledged to increase the cooperation between Nigeria and France in tackling security challenges occasioned by Boko Haram and ISIS jihadists in Nigeria and the Sahel region of Africa.

 

Credit – pm news

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