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.