- President Tinubu thanked the Kingdom for the various humanitarian interventions the King Salman Humanitarian Aid and Relief Centre carried out in Nigeria
- The President reiterated Nigeria’s call for an immediate cease-fire and the pursuit of a peaceful resolution
President Bola Tinubu has assured prospective investors that their investments in Nigeria are secure.
President Tinubu said yesterday at the Saudi-Africa Summit in Riyadh, Saudi Arabia, in a statement issued by presidential spokesman Ajuri Ngelale that Nigeria is ready for business and that investors can expect some of the highest returns on investment in the world.
Nigeria, according to the president, wants to strengthen cooperation with the Kingdom of Saudi Arabia in combating terrorist organizations such as Boko Haram, ISWAP, and other violent extremist groups that have terrorized the Lake Chad and Sahel regions.
“Both bilaterally and multilaterally, Nigeria and Saudi Arabia have always had a special relationship.” Our bilateral cooperation initially focused on the hajj, has expanded to include various areas of mutual interest over the last six decades. Seeing many of our compatriots and professionals, including highly skilled medical practitioners and professional football players, is heartening in this great Kingdom.
“As members of several international organizations, including the United Nations, the Organization of Petroleum Exporting Countries, the International Energy Forum, the Group of 77, the Islamic Development Bank, and the Digital Cooperation Organization, among others, our two countries have effectively used these and other platforms to strengthen close interaction and coordination.” I am confident that our positive attitude will continue to shine through on these platforms as we work to advance our mutual interests.
“Nigeria, like the Kingdom, is diversifying its economy away from reliance on oil to promote long-term development.” My administration has implemented bold economic reforms such as eliminating wasteful petroleum subsidies and merging our foreign exchange market, among other incentives, to improve the ease of doing business in Nigeria.
“I also want to reassure all potential Saudi investors about the safety of their investments based on the rule of law, as well as the good returns on their investments in Africa’s largest economy.” The benefit of the early establishment of the Nigeria-Saudi Business Council cannot be overstated in this regard,” the President said.
President Tinubu thanked the Kingdom for the various humanitarian interventions the King Salman Humanitarian Aid and Relief Centre carried out in Nigeria.
Speaking on climate change and its impact on Africa, President Tinubu stated that climate change has accelerated desertification and ongoing flooding in Nigeria and many other African countries.
Concerning the situation in the Middle East, particularly in Palestine, the President reiterated Nigeria’s call for an immediate cease-fire and the pursuit of a peaceful resolution.
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