AFD Puts Investment in Nigeria at 4.1bn Euros in 15 Years 

Raheem Akingbolu

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.

In a press statement to announce its proposed 15th anniversary event in Nigeria, AFD’s Country Director in Nigeria, Mr. Xavier Muron, said from inception, AFD has continued to assert itself 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.

He said to commemorate this milestone, AFD will hold an event this week in Abuja, bringing together senior representatives of the Government of Nigeria, Mr. Jean-François Hasperue, Charge d’Affaires ai., Embassy of France to Nigeria, Mr. Xavier Muron, AFD’s Country Director in Nigeria, and partners from across the country.

According to Muron, this is a demonstration of the strong ties between France and Nigeria, this event will provide an opportunity to highlight AFD’s impact over the past 15 years and to engage with partners in directing future interventions.

“Under the patronage of the French Embassy, the partnership between AFD and Nigeria, is aimed to promote a sustainable and inclusive development model that generates employment, improves infrastructure, and supports education and skills development.

“By working in partnership, AFD and Nigeria have co-produced and implemented projects to achieve the greatest impact for Nigerians. Every single project financed by AFD is aligned with the Sustainable Development Goals (SDG) and the Paris Agreement for Climate; a demonstration of France’s commitment to sustainability and development,” Muron added.

He said in the last 15 years, 23 states have benefited from AFD’s financing which have tangible impacts for Nigerians that 2.2 million people benefitted from permanent access to basic services and resilient infrastructure, one million people benefited from improved access to drinking water, 300 000 jobs have been created or supported, and 500 000 tons of CO² emissions have been saved every year through AFD-funded projects.

According to Muron, AFD’s activities have grown significantly in recent years, mostly across the energy, urban mobility and education sectors, while the number of partners has also increased. As well as the Federal and State Governments, AFD also collaborates with the Economic Community of West African States (ECOWAS), public development banks and Non-Governmental Organizations (NGOs).