Nigeria, Saudi Arabia partners to boost economic growth

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has led a delegation to Riyadh, Saudi Arabia to strengthen economic growth and cooperation between Nigeria and Saudi Arabia.

The delegation emphasised the Nation’s desire on partnering with Saudi’s Exim bank so as to expand the market access between the two nations.

The delegation also met with the Saudi Agricultural and Livestock Investment Company (SALIC), to discuss strategic approach on investing in Nigeria’s Agricultural sector inorder to yield food security, output growth, and job creation in Nigeria.

This was disclosed in a statement via the X handle of the Federal Ministry of Finance.

The statement partly reads:

“The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, representing President Bola Tinubu and the Presidential Economic Coordination Council, led a delegation to Riyadh to strengthen economic cooperation between Nigeria and Saudi Arabia.

“During the visit, the delegation engaged in high-level discussions with Saudi EXIM Bank, focusing on developing export credit and insurance frameworks, and 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.

“Additionally, 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.” [CONTINUE READING HERE]>>>>