The Nigerian government and Saudi Arabia are making efforts to deepen economic cooperation, particularly in export credit and infrastructure development.
In a statement released by the Ministry of Finance on Tuesday, it was revealed that Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, led a Nigerian delegation to Riyadh to strengthen economic ties. Representing President Bola Tinubu and the Presidential Economic Coordination Council (PECC), Edun spearheaded discussions during the official visit.
The delegation engaged in high-level talks with the Saudi Export-Import (EXIM) Bank, focusing on the creation of export credit and insurance frameworks to enhance market access between the two countries. The bank expressed interest in forging stronger relationships with Nigerian institutions and participating in future transactions with Saudi government entities.
In addition, strategic discussions were held with the Saudi Development Fund to explore collaboration opportunities aimed at enhancing Nigeria’s infrastructure and economic growth. The Nigerian team also met with the Saudi Agricultural and Livestock Investment Company (SALIC) to advance ongoing conversations about investments in Nigeria. SALIC reaffirmed its commitment to seeking further investment opportunities, emphasizing sustainable practices that would boost agricultural output, enhance food security, and create jobs in Nigeria.
The visit also featured engagements with key Saudi ministers overseeing finance, energy, and economic planning, further strengthening bilateral ties across critical sectors.
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