Nigeria and Saudi Arabia on Wednesday, September 23, sought to deepen bilateral relations beyond traditional ties, with expanded cooperation in agriculture, energy, investment, aviation, financial technology and trade.
The minister of information and national orientation, Mohammed Idris, stated this in Abuja at a reception to mark Saudi Arabia’s 96th National Day.
Idris said the longstanding relationship between both countries, built on history, faith and people-to-people connections, was taking on a broader economic and strategic dimension.
“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. These are areas that can create practical benefits for both countries and strengthen our economic ties,” Idris said.
The minister said Nigeria could draw lessons from Saudi Arabia’s development experience as the federal government implements economic reforms under president Bola Ahmed Tinubu’s Renewed Hope Agenda.
“The administration has been implementing reforms aimed at strengthening the economy, improving the investment environment, expanding infrastructure and creating greater opportunities for Nigerians,” He said.
He said the federal government was investing in roads and rail, improving electricity supply and reforming the oil and gas sector, while placing greater emphasis on agriculture, manufacturing, digital technology and the creative economy.
According to him, Nigeria is also working to attract more long-term investment by creating clearer and more predictable frameworks for investors.
He cited recent reforms in the deep offshore sector as part of efforts to unlock new investment while strengthening Nigerian participation in the industry.
“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.
Idris said the two countries could further strengthen their relationship through increased trade, investment, exchanges and partnerships.
He also commended the Saudi embassy for its efforts to promote bilateral relations and congratulated the government and people of Saudi Arabia on the country’s 96th National Day.
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