AFD commits €4bn to Nigeria’s economy in 15yrs
Agence Française de Développement (AFD) Group, a public financial institution that implements the policy defined by the French government, has stated that it has facilitated about 4.1 billion euros investments in Nigeria in the last 15 years. Speaking during the organisation’s 15yrs anniversary celebration held in Abuja on Thursday, AFD’s Country Director in Nigeria, Mr […]
rench Development Agency (AFD)
Agence Française de Développement (AFD) Group, a public financial institution that implements the policy defined by the French government, has stated that it has facilitated about 4.1 billion euros investments in Nigeria in the last 15 years.
Speaking during the organisation’s 15yrs anniversary celebration held in Abuja on Thursday, AFD’s Country Director in Nigeria, Mr Xavier Muron, said over the years it has served as a major technical and financial partner of Nigeria, investing 3.3 billion euros in over 57 projects, including 800 million euros through its private-sector subsidiary Proparco.
Muron added that the strong trade ties between France and Nigeria demonstrates the commitment between two countries and it will continue to engage with partners in directing future interventions in different sectors of the economy.
Also speaking, the Minister of Budget and Economic Planning, Atiku Bagudu, acknowledged the shared trade relationship between France and Nigeria.
He said, “The country is currently struggling with under-investment which is why it is seeking the support of AFD to attract private capital funders like the organisation in the 36 states of the federation.
“Nigeria is ready to tap into the £150b global gateway facility for Africa by the AFD as the country is poised to do business with multinationals and other corporate entities.”