Nigeria, Saudi Arabia Forge Stronger Economic Partnership for Infrastructure Growth

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.