In a major step toward strengthening economic cooperation, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has hosted a high-level delegation from the Saudi Fund for Development (SFD), led by its CEO, Mr Sultan Al-Marshad.
The meeting, which took place in his office in Abuja, also featured the presence of Saudi Arabia’s Ambassador to Nigeria, His Excellency Faisal Alghamdi, Minister of Trade and Investment, Dr Jumoke Oduwole, and the Minister of State for Finance, Dr Doris Uzoka-Anite.
The discussions focused on key areas of economic collaboration, including industrial development, renewable energy, and infrastructure investments aimed at driving economic growth, job creation, and poverty reduction.
“We have laid a strong foundation for collaboration, and over the next six months, we expect to make significant progress on our first joint infrastructure project,” Edun stated.
He lauded Saudi Arabia’s impressive economic achievements under its Vision 2030 initiative, particularly in the tourism and infrastructure sectors.
The Minister also reaffirmed Nigeria’s commitment to similar ambitious reforms under the leadership of President Bola Ahmed Tinubu, aimed at creating a stable investment climate conducive to both domestic and foreign investments.
He stated that the visit marks an important milestone in efforts to foster sustainable development between the two nations.
“We are confident that through strategic planning and visionary leadership, we will achieve mutual prosperity,” Edun said.
Mr Sultan Al-Marshad reiterated Saudi Arabia’s dedication to fostering economic collaboration, confirming that the SFD is prepared to finance major infrastructure projects in Nigeria.
He also proposed the appointment of a designated Nigerian counterpart to streamline project prioritisation and communication for efficient execution.
The meeting highlighted a renewed commitment by both Nigeria and Saudi Arabia to advance sustainable development and economic growth through strategic partnerships and shared priorities.
Mohammed Manga, Director of Information and Public Relations, said in a statement that it is imperative to note that this meeting marks the beginning of a new era of economic cooperation between Nigeria and Saudi Arabia, especially as both countries are committed to working together to drive economic growth, reduce poverty, and create jobs.
According to him, with this commitment, Nigerians are hopeful to see the tangible results of this partnership in the months and years to come.
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