Fed Min of Info & Nat’l Orien @FMINONigeria

PRESS STATEMENT

SAUDI GOVERNMENT TO INVEST IN NIGERIA’S REFINERIES, SUPPORT CENTRAL BANK REFORMS

The Government of Saudi Arabia has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms.

Saudi Crown Prince, HRH Mohammed bin Salman made these pledges at a bilateral meeting with President Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.

To support the Central Bank’s ongoing reforms of Nigeria’s foreign exchange regime, the Saudi Government will make available a substantial deposit of foreign exchange to boost Nigeria’s forex liquidity.

Prince bin Salman commended the economic reforms being implemented by President Tinubu, and expressed the commitment of the Saudi Government to supporting these reforms, and enabling Nigeria to reap the full benefits. According to him, Saudi Arabia is very eager to see Nigeria thrive under President Bola Tinubu, and realize its full potential as the economic giant of Africa.

In addition to these, Prince bin Salman also highlighted Agriculture and Renewable Energy as areas of investment interest for Saudi Arabia, in Nigeria, to help the country attain food and energy security, respectively.

The Crown Prince hinted that the refinery investments in Nigeria will be led by the Saudi state-owned oil company, Saudi Aramco, with the revamp to be completed within a two- to three-year timeframe.

The Crown Prince also expressed appreciation to Nigeria for its active participation in, and support for OPEC+.

President Tinubu thanked the Saudi leader for the proposed investments, and pledged that Nigeria would ensure judicious management and oversight. The two leaders vowed to work together over the next six months to develop a comprehensive road-map and blueprint to deliver on the agreed investments and outcomes.

Also, President Tinubu and Crown Prince bin Salman spoke on the need to strengthen security cooperation to mitigate terrorism, illegal migration and other crises, not just in Nigeria, but across West Africa and the Sahel region.

The two leaders further discussed existing economic and socio-cultural cooperation between Nigeria and Saudi Arabia, and agreed to open new vistas in bilateral relations.

The bilateral meeting was attended by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, Minister of Information and National Orientation, Mohammed Idris, Nigerian Ambassador to Saudi Arabia, Ambassador Yahaya Lawal and the state Chief of Protocol, Ambassador Adekunle Adeleke.


@HMMohammedIdris
Minister of Information and National Orientation
November 10, 2023

Fed Min of Info & Nat’l Orien

The Crown Prince of Saudi Arabia has grown on me even though I romanticize the ideologies of the Far West and despise the violence of Islamism.

Until Fox News broadcasted his interview 2 months ago, I always thought about him as an autocrat who restricts the press, especially, as he was linked to the controversial tragic end of a journalist. He talked about eSports, gaming, tourism, artificial intelligence, and the future. I was impressed.

Today, I think of Mohammed bin Salman as the leader who will turn Saudi Arabia into a top 3 global destination not only for retiring elite footballers but even for the atheist wine lover seeking a different country to enjoy a honeymoon with his new wife.

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I also want Nigeria to thrive. I look around me every noon and eve, and all I see is perennial poverty influenced by a lot of things including bad governance. Tinubu should learn from the Saudi Prince and form meaningful alliances with other world leaders to help us shape the future of Nigeria because we have failed so far.

We can start by making everyone feel comfortable like Nigeria is their country no matter their tribe or religion.

I remember he met German an American investors in previous summits earlier this year, have you ever heard of even a two penny investment he attracted being discussed in Nigeria?

Everyone is afraid of the criminal background, picture taking is allowed for propaganda purposes. At least he can use it to calm people's nerves as they die of hunger induced by terribly wrong policies.

Baba Agbalagba

Epon Jagbala


✌️

Tinubu I am hungry, I want to eat u.

World leaders struggling to meet and associate with Nigeria's president TINUBU, Nigerians are lucky and happy to have TINUBU as president .

When you do the right thing things will fall in place for you.

Checkout Davido. The moment he got married to Mrs Chef everything falls in place.
Twins
3 Grammies nominations

yarimo:
World leaders struggling to associate with Nigeria's president TINUBU

dey play

Nigeria is a great and a wonderful nation. We will continue in the part of growth and development.

God bless Jagaban
God bless Nigeria

I pray it brings good tidings to the economy of Nigeria.

Atleast this will reduce the rate of unemployment, hunger and hardship in Nigeria.
God bless jagaban

Till now we haven’t seen any development from this man.

Ok

MBS ...Bad guy!

The president president is there to woo Saudi's investments.....I don't support Israeli military engagement in Gaza because more innocent civilians are paying the price but Islamic nations should make efforts to expose terrorists living amongst them.

Make e just be say na one bandit masquerade as the Saudi Prince and e go just detonate the bomb as e embrace am....

Omo I just dey enjoy wild imagination

Nigerian Presidents too like to travel.
That's what you get when your country is under develope. Our presidents enjoy traveling to other countries that have good infrastructures but fail to develop the country.

May God almighty continue to help us

Yes Daddy would have been arranged to sit in backyard where kafiris are welcome

Trillions of dollars in the bag!

Na Saudi Arabia we suppose dey borrow from as they won't charge interest at all!

But if Buhari or Tinubu try am.... CAN go open can...SERAP go sue!

Christians go.....

Aremwayne:
Till now we haven’t seen any development from this man.

What kind of development do you want from Mr President?

I thought development is the job of our SE blodaz.

saphiere:
When you do the right thing things will fall in place for you.

Checkout Davido. The moment he got married to Mrs Chef everything falls in place.
Twins
3 Grammies nominations

U dey whine? Na Chioma make dem nominate Davido for Grammy

Go Bola
Go Bola

Stronghold91:

you are a big fool

Fvck you!

Alright

Good

Let it go well

MBS wil wonder how Nigerians voted in GBola as their number 1 citizen..