Nigerian President Tinubu embarked on a diplomatic mission to Saudi Arabia, aiming to foster economic ties and attract foreign direct investment.
The visit is part of broader efforts to revitalize Nigeria’s economy, addressing challenges such as inflation, currency depreciation, insecurity, and oil theft.
President Tinubu received a warm welcome upon his arrival in the Middle East, greeted by ministers, members of the National Assembly, and other government officials.
The summit in Saudi Arabia presents an opportunity for Nigeria to emphasize its dedication to attracting foreign direct investment and fostering expanded business partnerships. This visit is seen as a significant step in reinforcing the administration’s domestic economic reforms.
The Saudi-Africa summit, where Tinubu is participating, focuses on political coordination, economic transformation, regional security threats and cross-sectoral investment cooperation. The president has been actively seeking investments to enhance Nigeria’s economic prospects, assuring potential investors of a conducive business environment.
” Discussions at the first Saudi-Africa summit will revolve around supporting joint action, enhancing political coordination, facilitating economic transformation through research and the local development of new energy solutions, all while bolstering cross-sectoral investment cooperation,” Ngelale added.
With a delegation of key officials, including the ministers of foreign affairs and education, Tinubu aims to strengthen bilateral relations and explore opportunities for collaboration in various sectors.
A few of the officials who are traveling with Tinubu to the Saudi-Africa summit are the ministers of education, foreign affairs, and coordination of the economy and finance, Wale Edun, and Yusuf Tuggar.
The National Intelligence Agency , NIA, director-general, Ahmed Abubakar, Jalal Arabi, chair of the National Hajj Commission of Nigeria , NAHCON, and national security adviser Nuhu Ribadu.