Nigeria and Saudi Arabia are expanding their diplomatic relations into a broader economic partnership, with a focus on agriculture, energy, infrastructure, technology and trade.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this on Wednesday in Abuja at a reception to commemorate the 96th National Day of the Kingdom of Saudi Arabia.
Idris said the long-standing relationship between the two countries, built on historical, religious and people-to-people ties, was evolving into a broader strategic and economic partnership.
“Today, our relationship is also taking on a broader economic and strategic dimension. Nigeria and Saudi Arabia have opportunities to deepen cooperation in areas such as agriculture, energy, investment, aviation, financial technology and trade,” he said.
The minister said Nigeria could draw valuable lessons from Saudi Arabia’s development experience as the Federal Government implements economic reforms under President Bola Tinubu’s Renewed Hope Agenda.
He highlighted ongoing efforts to create a more predictable and investor-friendly business environment through investments in transport infrastructure, improvements in power supply and reforms in the oil, gas and deep offshore sectors.
Idris also invited Saudi investors and businesses to explore opportunities in Nigeria.
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“We welcome Saudi investors and businesses that are interested in Nigeria. There is considerable room for cooperation in agriculture and food production, energy, infrastructure, mining, technology and other productive sectors,” he said.
The event was attended by the Speaker of the House of Representatives, Tajudeen Abbas; Saudi Ambassador to Nigeria, Yousef bin Mohammed Al-Balawi; Minister of Aviation and Aerospace Development, Festus Keyamo; Minister of Budget and Economic Planning, Abubakar Atiku Bagudu; and former First Lady, Aisha Buhari, among other dignitaries.
Idris commended the Saudi Embassy for its efforts to strengthen bilateral relations and expressed confidence that trade, investment and cultural exchanges between both countries would continue to grow.
