Nigeria and Saudi Arabia are deepening economic cooperation to drive infrastructure development, strengthen industrial growth, and expand renewable energy investments.
This followed a high-level meeting between Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and a delegation from the Saudi Fund for Development (SFD), led by its CEO, Mr. Sultan Al-Marshad, in Abuja.

Also present were Saudi Arabia’s Ambassador to Nigeria, His Excellency Faisal Alghamdi, Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole, and Minister of State for Finance, Dr. Doris Uzoka-Anite.
Director of Information and Public Relations, Mohammed Manga in a statement explained that the discussions centered on fostering economic collaboration to drive job creation, reduce poverty, and enhance bilateral trade.
Minister Edun highlighted Nigeria’s commitment to creating a business-friendly environment under President Bola Ahmed Tinubu’s Renewed Hope Agenda and praised Saudi Arabia’s economic transformation under Vision 2030.

“We have set the stage for a productive partnership, and within the next six months, we expect significant progress on our first joint infrastructure project,” Edun stated.

Mr. Al-Marshad reaffirmed Saudi Arabia’s commitment to financing key projects in Nigeria, proposing the appointment of a Nigerian counterpart to ensure seamless coordination.

This renewed engagement marked a new era in Nigeria-Saudi relations, as both countries seek to harness strategic investments for sustainable economic growth. Nigerians anticipate tangible benefits from this collaboration in the coming months.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has thrown his weight behind the lifesaving efforts of Mission Aviation Fellowship (MAF), an international Christian organization dedicated to reaching remote communities with essential services.

During a courtesy visit by MAF’s delegation, Rick Emenaker, Stan Unruh, Souleymane Kouyate, and Don Campion, the team briefed the Minister on their critical role in supporting humanitarian agencies, missionaries, and isolated villages through aviation, communications, and learning technology.

L-R: Rick Emenaker- MAF, Souleymane Kouyate- MAF, Wale Edun- Honorable Minister of Finance and Coordinating Minister of the Economy, Don Campion- MAF and Stan Unruh- MAF

Recognizing MAF’s immense impact, Mr. Edun praised the organization’s dedication to serving vulnerable populations.
“Your work is invaluable, especially in providing medical aid, education, and relief services to those in hard-to-reach areas,” he stated.
The Director of Information and Public Relations, Muhammed Manga in a statement quoted Edun to have assured them of his support.
The Minister emphasized the need for stronger collaboration between the government and humanitarian organizations to expand life-changing interventions.
He directed MAF to relevant agencies for further assistance, signaling the government’s openness to fostering partnerships that enhance national development.

As MAF carry on its role in bridging the gap for underserved communities, the endorsement underscored the critical role of faith-based and non-governmental organizations in complementing government efforts.
With strategic support and collaboration, millions of Nigerians in remote locations stand to benefit from improved healthcare, education, and emergency relief.

The Federal Government has reaffirmed its commitment to private sector-led economic growth, emphasizing the crucial role of the International Finance Corporation (IFC) in driving investment across key sectors.
Speaking at a World Bank event on Thursday, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, assured that the government remains dedicated to fostering a business-friendly environment that attracts private investments.
The Minister praised IFC’s contributions to agriculture, infrastructure, and energy, noting that these partnerships are essential for economic stability and job creation.
“The government is committed to working with global partners like the IFC to drive sustainable investments that will unlock economic opportunities and improve the standard of living for Nigerians,” Edun stated.
He highlighted that recent policy reforms, such as the removal of fuel subsidies and efforts to boost production, have strengthened public finances and enhanced the investment climate.
While acknowledging the rising cost of living, the Minister assured that the government is prioritizing food security and expanding financial support for vulnerable Nigerians.
He thanked the IFC and other development partners for their continued collaboration in shaping Nigeria’s economic future.
“As Nigeria continues its economic transformation, strategic partnerships will remain key to achieving our long-term goals of sustainable growth, job creation, and poverty reduction,” he added.
With renewed commitment and stronger collaboration between the government and global financial institutions like the IFC, Nigeria is positioned to unlock its full economic potential. The administration remains focused on creating an environment where businesses can thrive, ensuring that private sector investments drive growth, innovation, and prosperity for all Nigerians.