Last week, President Bola Ahmed Tinubu, accompanied by his wife and a powerful delegation made up of some cabinet members and captains of industry, paid a three-day state visit to France.

The visit was at the invitation of French President Emmanuel Macron. It was President Tinubu?s first official visit to France whose former colonies encase Nigeria. It was also the first visit by a Nigerian leader in two decades.

Interestingly, France occupies a pride of place in the annals of Nigeria?s diplomatic peregrinations. The relationship between Nigeria and France dates back to October 1, 1960, when the former gained independence from Britain. France can be said to have enjoyed close diplomatic ties with Nigeria ab initio.

However, their romance suffered a major setback barely a year later when Nigeria, under the late Prime Minister Abubakar Tafawa Balewa, severed ties with France in protest against testing its atomic bomb in the Sahara Desert.

The fledgling ties suffered yet another setback during the 30-month Nigerian Civil War ? 1967 to 1970 ? when President Charles De Gaule threw his weight behind the secessionist regime led by Colonel Chukwuemeka Ojukwu. The French leader also facilitated the French mercenaries to fight on the side of the rebel forces, leading to the loss of many lives on the Biafran side.

After the two major setbacks, the relationship between the two nations, separated by socio-linguistic differences, have enjoyed an excellent rapport over the years. Today, a forgiving Nigeria is France?s top trading partner in sub-Sahara Africa. Presently, there are over 100 French firms operating in Nigeria with more than 10,000 employees in critical sectors such as oil and gas, infrastructure and telecommunications.

Without a doubt, President Tinubu?s visit is expected to engender more layers of economic cooperation as evidenced by a flurry of agreements and Memoranda of Understanding (MoUs) signed by the two countries, thus marking a significant turning point in the quest to strengthen economic bond between them.

Perhaps, one of the critical MoUs was the collaboration between the two countries to explore Nigeria?s neglected cash cow ? the solid minerals sector ? wittingly or unwittingly left in the hands of illegal operators. This sector ranks second to crude oil but because of poor regulatory framework and lack of control, the nation is yet to enjoy maximum benefits from the resources. It is public knowledge that some unscrupulous private jet owners are also neck-deep in the pillaging of the resources as they smuggle the national assets to foreign countries.

The Minister of Solid Minerals Development, Dr. Dele Alake, and France?s Inter-Ministerial Delegate of Critical Ores and Metals, Mr. Benjamin Gallezot, signed the MoU on behalf of their two countries.

The partnership is intended to focus on the development of critical minerals, such as lithium, cobalt, and nickel, which are key to advancing clean energy technologies. The two countries will also collaborate on research, training, and student exchanges to promote knowledge transfer.

Another critical component of the agreement is the commitment to sustainable mining activities, aimed at reducing the environmental impact of the mining sector.

The MoU also includes co-financed joint extractive projects, ensuring diversification and security of critical minerals while supporting energy transition projects.

Furthermore, the partnership will seek to remediate over 2,000 abandoned mining pits across Nigeria, given France?s expertise in sustainable mining. It will also engender diversification and promotion of the critical minerals value chain in both countries.

Also on the card was a Letter of Intent signed between Nigeria?s Minister of Finance, Wale Edun, and the French Development Agency (AFD) CEO, Remi Rioux.

The agreement focuses on long-term collaboration to support Nigeria?s Renewed Hope Agenda. It is believed that the partnership will go a long way in facilitating funding for key areas such as infrastructure development, agriculture, food security, healthcare, and human capital development.

The AFD has, in addition, committed to providing over ?300 million in financial and technical assistance across all Nigerian regions, focusing on energy transition, sustainable agriculture, and the improvement of agro-logistic hubs. The agreement emphasises the importance of removing fiscal barriers and ensuring efficient project implementation to enhance mutual trade between the two nations.

On the sideline of the visit was the formal inauguration of the operations of two of Nigeria?s leading banks, United Bank for Africa (UBA) and Zenith Bank, in France. Internationalising their operations in an advanced economy like France will, no doubt, take their portfolios to higher heights.

In his remarks on the occasion, the Chairman of UBA, Mr. Tony Elumelu, said, ?Expanding into France is a natural progression, with Paris serving as our European Union hub, as we continue to bring Africa and the world together, through innovative financial solutions. Paris will join London, New York and Dubai, as a critical component of our unique global network.?

On the whole, President Tinubu?s visit to France could not have come at a better time when his administration is currently grappling with daunting economic challenges arising from several years of decay and poor governance. It is hoped that all the agreements reached will be pursued to their logical conclusions. They should not end up as paper tigers. (Blueprint Editorial)

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