Nigeria and Saudi Arabia are strengthening their economic partnership, with a major focus on infrastructure, industrial development, and renewable energy.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, recently hosted a high-level delegation from the Saudi Fund for Development (SFD), led by its CEO, Sultan Al-Marshad.
The meeting, attended by Saudi Arabia’s ambassador to Nigeria, Faisal Alghamdi, as well as Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole, and Minister of State for Finance, Dr. Doris Uzoka-Anite, explored key investment opportunities aimed at boosting economic growth, job creation, and poverty reduction.
Minister Edun emphasised the importance of the partnership, stating, “We have laid a strong foundation for collaboration, and over the next six months, we expect to make significant progress on our first joint infrastructure project.”
He also praised Saudi Arabia’s Vision 2030 reforms, particularly its advancements in tourism and infrastructure, reaffirming Nigeria’s commitment to similar economic transformations under President Bola Ahmed Tinubu.
Mr. Sultan Al-Marshad, representing the SFD, confirmed Saudi Arabia’s commitment to financing major infrastructure projects in Nigeria.
He proposed the appointment of a Nigerian counterpart to enhance project prioritisation and streamline communication for effective execution.
“This visit marks an important milestone in our efforts to foster sustainable development between our two nations. We are confident that through strategic planning and visionary leadership, we will achieve mutual prosperity,” Minister Edun added.
This renewed collaboration reflects a shared vision for sustainable development and economic progress, setting the stage for greater investment opportunities and long-term partnerships between the two nations.
