Published by Global Banking & Finance Review®
Posted on November 30, 2024
1 min readLast updated: January 28, 2026
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Nigeria and France signed agreements to enhance infrastructure and finance, including a €300 million investment. Zenith Bank and UBA expand into France.
By Felix Onuah
ABUJA (Reuters) - Nigeria and France have signed two agreements to boost infrastructure development and food security while Nigerian lenders Zenith Bank and United Bank for Africa (UBA) expanded their operations into France.
Nigeria's presidential spokesperson Bayo Onanuga said on Friday that the deals, signed the previous day during President Bola Tinubu's state visit to Paris, included a 300 million euro investment plan to support critical infrastructure, healthcare, transportation, agriculture, renewable energy and human capital development across Nigeria.
Nigeria's finance minister Wale Edun and French economy minister Antoine Armand signed a letter of intent to facilitate the investments. Both nations also pledged to streamline trade and investment processes, Onanuga said in a statement.
"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," a joint statement said.
In addition to the government-level agreements, Zenith Bank opened its doors in Paris, while UBA is set to follow after agreeing with the French authorities to commence operations in Paris, Onanuga said.
(Writing by Elisha Bala-Gbogbo; Editing by Kirsten Donovan)
The article discusses Nigeria and France signing agreements to boost infrastructure and finance, including a €300 million investment plan.
What sectors will the €300 million investment target? It will support infrastructure, healthcare, transportation, agriculture, renewable energy, and human capital development.
Which Nigerian banks are expanding into France? Zenith Bank has opened in Paris, and UBA is set to follow.
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