Legit.ng journalist, Ridwan Adeola Yusuf, has over 9 years of experience covering governance in Africa.
Riyadh, Saudi Arabia – The Saudi Crown Prince and prime minister (PM) of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz Al Saud, has assured Nigeria of support in ‘its economic reform programmes’.
According to Bayo Onanuga, the special adviser to President Bola Tinubu (information and strategy), the assurance came when the Crown Prince and the Nigerian leader met on Monday, November 12, in Riyadh on the sidelines of the joint Arab-Islamic Summit.
Source: Twitter
Onanuga’s statement said the two leaders explored potential areas for cooperation, particularly oil and gas, agriculture, infrastructure and the constitution of the Saudi-Nigeria Business Council.
It reads:
“Nigeria wants an agreement with the Saudi government over a proposed $5 billion bilateral trade facility between the two countries.
“The Saudi Agricultural and Livestock Investment Company (SALIC) invested $1.24 billion in 2022 to acquire a 35.43% stake in Olam Agri, one of Nigeria’s leading agricultural firms.
“Talks are being held so that SALIC can have more stake in the company.”
The Saudis hoped the investment would make Olam one of the biggest agro-allied businesses in the world.
Onanuga said the Crown Prince “commended President Tinubu’s economic reforms, noting similarities to his steps to strengthen Saudi Arabia’s stability and development when he became PM”.
At the meeting with the Crown Prince were the Saudi minister of national guard, Prince Abdullah bin Bandar bin Abdulaziz; the minister of defence, Prince Khalid bin Salman bin Abdulaziz; and several senior officials.
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Source: Legit.ng