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FG denies ulterior undertone in Nigeria’s over €300 million investment agreements with France

Nnaemeka Onyekachi by Nnaemeka Onyekachi
December 27, 2024
in Economy, Spotlight
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The Federal Ministry of Foreign Affairs in Nigeria has stated that there is no ulterior undertone associated with the country’s investment agreements worth over €300 million with France.

Alkasim Abdulkadir, Special Assistant on Media and Communications Strategy to the Minister of Foreign Affairs, Amb. Yusuf Maitama Tuggar, made this known in a statement on Thursday.

He dismissed comments attributed to Niger Republic’s military President, Abdourahamane Tchiani, alleging that Nigeria sponsors terrorism through France, describing the claims as false, misleading, and a figment of Tchiani’s imagination.

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No Ulterior Motives in Nigeria-France Agreements   

Abdulkadir clarified that President Bola Ahmed Tinubu visited Paris, where Nigeria and France signed agreements to boost infrastructure development and food security.

  •  He added that Nigerian lenders, Zenith Bank and United Bank for Africa (UBA), also expanded their operations into France during the visit.
  • He emphasized that the agreements were purely for the economic benefit of both countries, refuting claims that they were tied to the establishment of a French military post in Nigeria.

“The agreements include a €300 million investment plan to support critical infrastructure, healthcare, transportation, agriculture, renewable energy, and human capital development across Nigeria. Thus, the funds are not in exchange for the establishment of a military post,” he stated.

  • Abdulkadir further noted that as a country in transition, Nigeria has signed development agreements with France, China, the USA, Japan, Russia, and other nations, stressing that bilateral economic relations and mutual support are standard practices globally, including for Niger Republic.

“We reiterate that there is no ulterior undertone in Nigeria’s relationship with France,” he added.

  • He also clarified that there are no French soldiers in Nigeria, nor any plans by the Nigerian government to establish a military post manned by French forces.
  • Abdulkadir maintained that the relationship between Nigeria and France remains cordial, guided by mutual respect, dignity, and non-interference in each other’s internal affairs.

What You Should Know 

On Thursday, the Economic Community of West African States (ECOWAS) defended Nigeria’s reputation as a “generous” and “magnanimous” country within the West African region.

  • In a statement, ECOWAS refuted allegations of terrorism sponsorship made against Nigeria, expressing deep concern over the claims targeting Nigeria and other member states.

“For years, Nigeria has supported peace and security in several countries, not only within the West African subregion but across the African continent. The recent successes recorded by the Multinational Joint Task Force (MNJTF), led by Nigeria, demonstrate the country’s commitment to regional peace and security.   

“ECOWAS, therefore, refutes any suggestion that such a generous and magnanimous country would become a state sponsor of terrorism,” the statement read.

  • On the same day, the Federal Government of Nigeria, through the Ministry of Information, reiterated its position, denying allegations of sabotaging Niger Republic’s economic pipeline and agriculture as claimed by General Abdourahamane Tchiani.
  • The government described the accusations as baseless and nonexistent.
  • These developments come as the Authority of Heads of State and Government of ECOWAS, on December 16, 2024, gave Burkina Faso, Mali, and Niger six months—starting from January 29, 2025—to reconsider their withdrawal from the regional body.
  • This decision followed official notifications from the military-led governments of the three countries regarding their intention to leave ECOWAS.
  • A transitional period, set to end on July 29, 2025, has been established to allow the countries to reconsider and potentially rejoin the organization.

Dr. Omar Touray, President of the ECOWAS Commission, disclosed this at the conclusion of the 66th Ordinary Session of the Authority of Heads of State and Government, held in Abuja.

He explained that the Authority acknowledged the notifications from the three countries and, in line with Article 91 of the revised ECOWAS Treaty, the countries would officially cease to be members of ECOWAS from January 29, 2025.


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Tags: Abdourahamane TchianiAmb. Yusuf Maitama TuggarFrance
Nnaemeka Onyekachi

Nnaemeka Onyekachi

My name is Nnaemeka Onyekachi, a writer, public speaker and an award winning journo with over 5,000 reports on a wide range of topics associated with the Nigerian society and the international community. Currently serving as a Senior Editorial Analyst at Nairametrics, my passion lies in delivering insightful financial,corporate, economic news and analysis on foreign relations, governance, judiciary and legislature.

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