Ken Okeke
A top level talks between Nigeria and Saudi Arabia is expected to lead to advanced infrastructure development around critical sectors in Nigeria.
From the disclosure from Nigeria’s Federal Ministry of Finance, Saudi Arabia has shown interest in developing infrastructure and taking up more advanced investment in the energy, agriculture and other areas.
The Ministry made Nigerians to believe that the Government of Saudi Arabia is exploring the possibility of investing in Nigeria’s infrastructure sector, via a statement by the spokesman of the Ministry, Mr. Mohammed Manga.
Manga, in the statement said a high-level Nigerian delegation’s visit to Saudi Arabia, which was led by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, engaged key Saudi Ministers and institutions in bilateral talks during the visit.
“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, Economy and Planning, further cementing bilateral cooperation across vital sectors.
“During the visit, the delegation engaged in high-level discussions with Saudi EXIM Bank, focusing on developing export credit and insurance frameworks as well as in 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,” the statement said.
The other members of Nigerian delegation to Saudi Arabia, according to the statement, included Sen. Abubakar Atiku Bagudu, 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.