Nigeria, Saudi Arabia to explore opportunities in infrastructure, economic development

The Nigeria government has deepened economic ties with Saudi Arabia targeted at  boosting infrastructure and economic development

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun representing President Bola Tinubu and the Presidential Economic Coordination Council, led a delegation to Riyadh to strengthen economic cooperation between Nigeria and Saudi Arabia.

During the visit, the delegation engaged in high-level discussions with Saudi EXIM Bank, focusing on developing export credit and insurance frameworks, and expanding market access between the two nations. The bank expressed interest in deepening relationships with Nigerian institutions and participating in future transactions involving Saudi government entities.

Additionally, the delegation held strategic talks with the Saudi Development Fund to explore potential areas of collaboration aimed at boosting infrastructure and economic development in Nigeria.

The delegation also met with the Saudi Agricultural and Livestock Investment Company (SALIC) to advance ongoing conversations about their investments in Nigeria. SALIC reaffirmed its commitment to exploring further opportunities, emphasizing responsible investment practices that prioritize food security, output growth, and job creation in Nigeria.

In a series of high-level meetings, the Nigerian delegation engaged with key Saudi ministers, including those responsible for Finance, Energy, and Economy and Planning, further cementing bilateral cooperation across vital sectors.

Accompanying Edun were Senator Abubakar Atiku Bagudu @⁨GovBagudu⁩, Honourable Minister of Budget and National Planning; Mr. Wale Tinubu, member of the Presidential Economic Coordination Council; Ms. Sanyade Okoli, Special Adviser to the President on Finance and the Economy; and Mr. Muhammad Sani Abdullahi, Deputy Governor (Economic Policy) of the Central Bank of Nigeria.