Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman has praised President Bola Tinubu for his economic reforms.
Presidential spokesperson Bayo Onanuga disclosed this in a statement on the sidelines of the Joint Arab-Islamic Summit in Riyadh, the Saudi Arabian capital.
He said Tinubu and Salman explored areas of cooperation, especially oil and gas, agriculture, infrastructure and the constitution of the Saudi-Nigeria Business Council.
“The Crown Prince praised President Tinubu's economic reforms, noting parallels with his actions to strengthen Saudi Arabia's stability and development when he became prime minister,” the statement said.
“He assured Nigeria of his support and promised to motivate his team to realize the various areas of partnership discussed at the meeting.”
Read also: Tinubu returns to Abuja from Saudi summit
According to Onanuga, Nigeria is seeking an agreement with the Saudi government on the proposed $5 billion bilateral trade facility between the two countries.
“Saudi Agriculture and Livestock Investment Company (SALIC) is set to invest $1.24 billion in 2022 to acquire a 35.43% stake in Olam Agri, one of Nigeria’s leading agricultural firms,” the statement said.
“The talks are being held so that SALIC can have a higher stake in the company. The Saudis hoped the investment would make Olam one of the largest agri-related businesses in the world,” he said.
Rajya Sabha Press Release
Saudi Crown Prince lauds ongoing reforms in Nigeria, assures support
Saudi Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz Al Saud has assured Nigeria of support in its economic reform programmes.
– Bio Onanuga (@aonanuga1956) 12 November 2024
(tagstotranslate)Mohammed bin Salman
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