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Presidents Muhammadu Buhari and Emmanuel Macron have agreed a $475 million bilateral deal to aid infrastructural projects in Lagos, Kano and Ogun.

The Lagos deal comprises financing for an urban mobility project. The $200Million project will see the development of eight priority bus corridors connected to Lagos’s mass transit network.

In Kano State, the French foreign development agency, Agence Française de Développement (AFD), will offer the state a credit facility of $75 million. The facility will be for the improvement of the supply of drinking water for Kano city residents. The improvement in supply is also expected to help the financial viability of the state’s water board with the expected increase in its revenues.

The Ogun state deal will see a French firm, working in conjunction with the Nigeria Sovereign Investment Authority, create an investment pool of $200 million for a massive land reclamation project. The project is committed to reforesting 108,000 hectares of Ogun’s depleting forest. This will generate employment while addressing the issues of climate change.

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