Mr Christophe Lecourtier, Chief Executive Officer of Agence Française de Développement (AFD) Group, has said the agency seeks to strengthen France’s cooperation with Nigeria to promote growth and advance shared interests.
This is contained in a statement released on Wednesday by Ms Mariam-Emmanuelle Kone, AFD’s Regional Communications Head.
The statement said that during his visit to Lagos, Lecourtier met Nigerian institutional and economic partners to discuss shared priorities, including vocational training, health, private sector, and entrepreneurship support, major infrastructure projects and health sovereignty.
It said the group had committed about 2.5 billion euros to Nigeria, with more than 50 projects currently underway, making it a major partner in the country’s economic and social development.
Lecourtier signed two renewed agreements with key players in financing the Nigerian economy.
The first was a 30 million dollar loan agreement with the Bank of Industry (BOI) to finance businesses in the cultural and creative industries, including Nollywood and Afrobeats.
The sector accounts for nearly two per cent of Gross Domestic Product and provides more than four million jobs for Nigerian youths.
The second was a 30 million dollar loan from Proparco, AFD Group’s private sector subsidiary, to Sterling Bank.
The facility will support renewable energy projects and small and medium-sized enterprises (SMEs) in the agricultural sector, among others, and foster partnerships between Nigerian and French businesses.
Lecourtier also held talks with Mr Aminu Umar-Sadiq, Chief Executive of the Nigeria Sovereign Investment Authority, on future investments to improve energy efficiency in the construction sector.
The statement said vocational training and student employability remained priorities of Franco-Nigerian cooperation.
In that regard, Lecourtier visited the ACETEL centre of excellence at the National Open University of Nigeria, which is co-financed by AFD and the World Bank.
He also held discussions with ECOWAS leaders and several senior Nigerian government officials.
Meeting the Minister of Finance, Mr Taiwo Oyedele, Lecourtier discussed priority sectors for forthcoming investments.
These include human capital (health, social protection and vocational training) and sustainable infrastructure (energy, energy efficiency and urban mobility).
He also met the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and reaffirmed AFD’s readiness to support Nigeria in implementing universal health coverage. He highlighted Expertise France’s work on pharmaceutical value chains and health insurance.
A visit to the QUALIMEDS project, funded by the European Union and implemented by Expertise France, showcased the partnership and highlighted opportunities for stronger ties among Nigerian, French and European economic ecosystems.
Visits to the Lagos Free Zone and CMA CGM Group’s facilities at Lekki Port underscored the complementarity between Nigeria’s major industrial infrastructure projects and French expertise.
Speaking to a delegation of French business representatives alongside Business France, Lecourtier reiterated that AFD has a key role in facilitating business partnerships.
“Nigeria is a major partner for France in Africa, in response to rapid population growth and immense needs in energy, infrastructure, healthcare and employment.
“AFD Group is mobilising all its tools: financing businesses, supporting entrepreneurs and developing talent through training.
“Our ambition is to foster shared prosperity, serving the interests of Nigerians, France, and Europe alike,” Lecourtier said.
