Nigeria and France have signed agreements to carry out projects in Lagos, Kano and Ogun states at the cost of $475 million.
With respect to Lagos state, the agreement is a letter of intent for
the financing of urban mobility improvement project via a loan of $200
million. This will involve the development of eight priority bus
corridors connected to the Lagos mass transit network.
the financing of urban mobility improvement project via a loan of $200
million. This will involve the development of eight priority bus
corridors connected to the Lagos mass transit network.
In Ogun State, a French firm will in conjunction with the Nigeria
Sovereign Investment Authority ( NSIA), mobilise from investors about
another $200 million for land reclamation to correct the massive
degradation of arable land being witnessed in the state.
Sovereign Investment Authority ( NSIA), mobilise from investors about
another $200 million for land reclamation to correct the massive
degradation of arable land being witnessed in the state.
The Ogun project aims to reforest 108,000 hectares of depleting forest in Ogun state.
The state governor, Ibikunle Amosun, who spoke with journalists at
the State House presidential villa Abuja said the project was very vital
not only in addressing climate change challenges and recreating the
forest, but also in providing employment to the people of the state.
the State House presidential villa Abuja said the project was very vital
not only in addressing climate change challenges and recreating the
forest, but also in providing employment to the people of the state.
The agreements were signed by Presidents Muhammadu Buhari and
Emmanuel Macron on Tuesday in Abuja after they held a bilateral meeting.
Emmanuel Macron on Tuesday in Abuja after they held a bilateral meeting.
France will through its foreign development agency, Whence Francaisede Development (AFD), also extend a credit facility of $75 million
towards improving water supply in Kano.
The concessional loan is expected to help Kano State government
ensure more residents of the city have access to drinking water while
improving the financial viability of the state water board to increase
its revenues.
ensure more residents of the city have access to drinking water while
improving the financial viability of the state water board to increase
its revenues.
Both leaders also agreed to strengthen economic, sporting and
cultural ties between their countries; as well as encourage youth
empowerment in a bid to check poverty that causes many of the social
vices rearing their heads.
cultural ties between their countries; as well as encourage youth
empowerment in a bid to check poverty that causes many of the social
vices rearing their heads.
Mr. Macron in a joint press conference with Mr Buhari recalled his days in Nigeria about 15 years ago.
He said it was an emotional come-back for him, especially as he never
imagined he would return to Abuja one day as president of France.
imagined he would return to Abuja one day as president of France.
On his part, Mr Buhari said the discussion centered on security in
the Sahel and economic integration. He said they both talked about
inter-basin transfer for Lake Chad.
the Sahel and economic integration. He said they both talked about
inter-basin transfer for Lake Chad.
Mr Buhari also said one of the reasons he toured the neighbouring
countries on assumption of office, which are all ex-French colonies, was
because “it makes sense and cheaper to maintain security”.
countries on assumption of office, which are all ex-French colonies, was
because “it makes sense and cheaper to maintain security”.
Mr Buhari also thanked the French President for his support on the fight against corruption.
“I am grateful to the French President for commitment and understanding as it concerns Nigeria and this region,” he said.
