₦airaland Forum

Nigeria is gearing up for an "immediate" influx of multi-billion-dollar investments from Saudi Arabia following the signing of a landmark agreement.

Bloomberg reported that the agreement creates a corporate council that opens the door for Saudi Arabia to finance a number of Nigerian industries, including technology, telecommunications, energy, oil and gas, and agriculture.

Abubakar Atiku Bagudu, Nigeria's Minister of Budget and Economic Planning, told Bloomberg, "We expect to see significant investment flow immediately" after a productive business round-table between Saudi and Nigerian officials.

The reestablishment of the Nigeria-Saudi Arabia Business Council, initially proposed in 2019 by Crown Prince Mohammed bin Salman bin Abdulaziz, signals a new chapter in economic cooperation between the two nations.

Bagudu said that Saudi Arabia wants to make a successful investment, which might cost several billion dollars in Nigeria by means of this council, similar to how it did in India, Indonesia, and Pakistan.

Although precise numbers were not revealed, Bagudu emphasised undertakings from businesses such as the Saudi Agricultural and Livestock Investment Co., who are looking to sign agreements in Nigeria before the year ends. The Saudi counterpart and executives from Salic met with the Nigerian Minister of Agriculture to reinforce collaborations.

Last week marked a milestone in Nigeria-Saudi Arabia relations, with the two nations sealing various investment and cooperation deals. Notably, Saudi Arabia pledged to invest in the overhaul of Nigeria's oil refineries and provide financial support for the government's foreign-exchange reforms.

The momentum continues as Saudi Arabia is set to unveil detailed investment plans within a week, with officials planning to close several deals during their visit to Nigeria by the end of December. The agreement to take action was reaffirmed at the business roundtable by Saudi Arabia's Minister of Trade and Investment, Kahlid El-Falih. "We are coming for implementation, it’s an action visit. It will be to sign and begin delivery on all agreements,” Bloomberg quoted him as saying.

Is it the same Saudi Arabia that pursued you people back like say una get ebola?

Make una just dey play

If you don't believe this news press LIKE, if you believe, then press SHARE

Saudi Arabia recently turned away Nigerians, not letting them in.
This reminds us of when they sent people back because of the Ebola virus. Now, it looks like they want something from Nigeria because they are spending a lot of money.
They might be trying to get Nigeria's support for big events like[b] the World Cup and the 2030 Expo. [/b]
But they haven't really invested in Nigeria yet, so we should be careful and not fall for any hidden plans.

Absuchat:

Is it the same Saudi Arabia that pursued you people back like say una get ebola?

Make una just dey play

I believe press, But I cannot believe saudi.

It doesn't seem like they are being real with us. Just look at the recent news about them not letting people in. They talk about investing, but then they say something else. I shared the news so we won't be fooled again.

do you believe oil money?

saintopus:
If you don't believe this news press LIKE, if you believe, then press SHARE

where are you from? are u from saudi?

saintopus:
If you don't believe this news press LIKE, if you believe, then press SHARE

Come on, Saudi is one of our top ally countries. How would Nigeria grow without them? Lets be honest, many here would pay to get a working visa for Saudi. you dont want to work in Saudi? Pleaseeeee

baztig:
Nigeria is gearing up for an "immediate" influx of multi-billion-dollar investments from Saudi Arabia following the signing of a landmark agreement.

I hope the mosques are established only in the Sharia states.

Another propaganda from a government full of LIES and deceit.

I worked in Saudi Arabia and to tell you the truth, I didn't get all the money I was promised. I lived a life of waking up before dawn and coming home after dark. It felt like my employer didn't treat me like a person. I think the Filipinos I worked with felt the same, but being Nigerian, it seemed like I was treated worse. Not everyone is like this, but when I went to restaurants where Saudis went, they all stared and ignored me. If I made a mistake, my boss would insult me, saying it's because I'm Nigerian. Sometimes, the supervisor even hit me when I did something wrong.

Let's not be fooled by such articles. History has shown what some Saudis think of us, and I've felt it myself... I just wish there weren't people with such strange ideas. We need to share this with our friends and the media to bring attention to it.

dumhoi:
Come on, Saudi is one of our top ally countries. How would Nigeria grow without them? Lets be honest, many here would pay to get a working visa for Saudi. you dont want to work in Saudi? Pleaseeeee

I'm grateful for the mosques being built, but... seeing what the government and Saudi are up to makes me angry. What's their hidden agenda?
maybe propaganda?

EmeeNaka:
I hope the mosques are established only in the Sharia states.

I've been saving up and looking forward to seeing the World Cup as the highlight of my life, but hearing it might be held in Saudi Arabia really saddened me. I worry about being discriminated against for being Nigerian, or even worse, not being allowed to enter and just sent back home. Have you seen the articles on Human Rights Watch? The situation seems more serious than I thought.

[url] https://www.hrw.org/news/2023/11/07/rights-risk-saudi-arabia-sole-bidder-host-2034-world-cup[/url]

mozsiv:
I worked in Saudi Arabia and to tell you the truth, I didn't get all the money I was promised. I lived a life of waking up before dawn and coming home after dark. It felt like my employer didn't treat me like a person. I think the Filipinos I worked with felt the same, but being Nigerian, it seemed like I was treated worse. Not everyone is like this, but when I went to restaurants where Saudis went, they all stared and ignored me. If I made a mistake, my boss would insult me, saying it's because I'm Nigerian. Sometimes, the supervisor even hit me when I did something wrong.

Let's not be fooled by such articles. History has shown what some Saudis think of us, and I've felt it myself... I just wish there weren't people with such strange ideas. We need to share this with our friends and the media to bring attention to it.

Absuchat:

Is it the same Saudi Arabia that pursued you people back like say una get ebola?

Make una just dey play

stadium turn down biafrans not Nigerians

lexylaw40:
stadium turn down biafrans not Nigerians

This didn't listen when NAFDAC warned people to stop "smoking toilet"
Brain has been damaged beyond repairs

lexylaw40:
stadium turn down biafrans not Nigerians

Are the below Nigerians or Biafrans