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NEWS

Saudi crown prince applauds Tinubu, pledges support for Nigeria’s economic reforms

November 12, 2024 • 1 min read

November 12, 2024

By Samuel Ogunsona

The Saudi Arabia’s Crown Prince and Prime Minister, Mohammed bin Salman, has assured Nigeria of his country’s support for its economic reform programs.

This commitment came during a meeting with President Bola Ahmed Tinubu on the sidelines of the Joint Arab-Islamic Summit in Riyadh.

The crown prince who praised President Bola Tinubu for his courage noted similarities to his steps to strengthen Saudi Arabia’s stability and development when he became Prime Minister.

The two leaders explored potential areas of cooperation, including oil and gas, agriculture, infrastructure, and the establishment of the Saudi-Nigeria Business Council. Nigeria is seeking a $5 billion bilateral trade facility with Saudi Arabia, while the Saudi Agricultural and Livestock Investment Company (SALIC) invested $1.24 billion in Olam Agri, a leading Nigerian agricultural firm, in 2022.

Prince Mohammed bin Salman commended President Tinubu’s economic reforms, stability and development.

He pledged to motivate his team to realize the discussed partnerships.

The summit renewed Nigeria’s mandate on the Ministerial Committee to engage global leaders in seeking an end to the war in Gaza and Lebanon.

The committee will submit periodic reports and engage actors across the Global South to strengthen international support.