Nigeria and Saudi Arabia have commenced talks to deepen
their economic ties with export credit and infrastructure development.
According to a statement from the ministry of finance on
Tuesday, Wale Edun, minister of finance and coordinating minister of the
economy, led a Nigerian delegation to Riyadh to strengthen economic cooperation
with Saudi Arabia.
The ministry said Edun represented President Bola Tinubu and
the presidential economic coordination council (PECC) during the official
visit.
The statement said the delegation engaged in high-level
discussions with the Saudi Export-Import (EXIM) Bank, focusing on developing
export credit and insurance frameworks to boost market access between the two
nations.
Also, the ministry said the bank expressed interest in
deepening relationships with Nigerian institutions and participating in future
transactions with Saudi government entities.
“Additionally, the delegation held strategic talks with the
Saudi Development Fund to explore potential areas of collaboration aimed at
boosting infrastructure and economic development in Nigeria,” the finance
ministry said.
“The delegation also met with the Saudi Agricultural and
Livestock Investment Company (SALIC) to advance ongoing conversations about
their investments in Nigeria.”
The finance ministry said SALIC reiterated its commitment to
seeking additional investment opportunities, emphasising its focus on
responsible practices aimed at enhancing food security, boosting agricultural
output, and creating jobs in Nigeria.
Also, the Nigerian delegation held discussions with
prominent Saudi ministers including those responsible for finance, energy, and
economy and planning, further strengthening bilateral collaboration across
critical sectors.
Accompanying Edun on the delegation were Abubakar Bagudu,
the minister of budget and national planning; Wale Tinubu, a member of the
presidential economic coordination council; Sanyade Okoli, special adviser to
the president on finance and the economy; and Muhammad Abdullahi, deputy
governor for economic policy at the Central Bank of Nigeria (CBN).
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