Saudi Arabia’s Crown Prince and Prime Minister, Mohammed bin Salman, assured Nigeria of his support for the country’s economic reform initiatives during a meeting with President Bola Ahmed Tinubu in Riyadh. The two leaders discussed avenues for strengthening ties, particularly in oil and gas, agriculture, infrastructure, and establishing a Saudi-Nigeria Business Council.
One significant proposal includes a $5 billion bilateral trade facility between Nigeria and Saudi Arabia, with ongoing talks to expand Saudi investment in Nigeria’s agricultural sector. The Saudi Agricultural and Livestock Investment Company (SALIC) had previously invested $1.24 billion in 2022 to acquire a substantial stake in Olam Agri, one of Nigeria’s top agricultural enterprises. This investment aims to position Olam as a global leader in the agro-allied industry.
The Crown Prince commended President Tinubu’s economic reforms, noting parallels to his transformative policies that have bolstered Saudi Arabia’s stability and growth. He pledged his commitment to ensuring that his team supports the initiatives discussed and brings the plans to fruition.
Accompanying the Crown Prince at the meeting were senior Saudi officials, including the Minister of National Guard, Prince Abdullah bin Bandar, and the Minister of Defense, Prince Khalid bin Salman.
Meanwhile, the Joint Arab-Islamic Summit, which brought leaders together in Riyadh, reaffirmed Nigeria’s role on the Ministerial Committee tasked with advocating for peace in Gaza and Lebanon. This decision, part of the summit’s resolution, emphasized the committee’s need to intensify diplomatic efforts and engage with leaders globally. The summit also praised the African Union’s dedication to the Palestinian cause and urged protection for international sea routes in line with global law.
In a unified resolution, summit members condemned Israeli actions in Gaza, describing recent military actions as “crimes of genocide” and reiterating that East Jerusalem remains the “eternal capital” of Palestine. The summit concluded with support for Lebanon’s sovereignty and a call for the unification of a Palestinian state encompassing East Jerusalem, the West Bank, and Gaza.
