Friday, September 4, 2009

France to invest $250 million in Nigeria

Federal Republic of France has declared its decision to invest $250 million in the Nigerian economy in the next one year with a focus on banking industry, water, transport and housing.

However, it said it is ready to commit $100 million to enhance an efficient transportation in Lagos State.

The Country's Director, French Development Agency (FDA), Luc Bonnamour, revealed this yesterday when he paid a courtesy call on Governor Babatunde Fashola of Lagos State at the State House, Alausa, Ikeja.

According to him, the visit was to explore "priority areas" in Lagos State that would facilitate "renewed partnership between France and Nigeria particularly in the area of support for development."

Leader of the French delegation, Senator Jacques Legendre said France was ready to partner Lagos to develop areas such as "water and sanitation, transport and housing."

Fashola, in his response said: "Africa holds the key to solving the world problem," after delving into history on the gory tales of the painful experience of slave trade era.

"In this century, the role that Africa will play is that of a partner in providing support for the whole world," he said.

He expressed the support of the state to the delegation, describing Lagos and Nigeria as "an emerging market" having what it takes for a good return on investment.


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