₦airaland Forum

Both nations to partner on industrial devt, renewable energy, others

Ndubuisi Francis in Abuja

Saudi Arabia has confirmed its preparedness to finance major infrastructure projects in Nigeria, while proposing the appointment of a designated Nigerian counterpart to streamline project prioritisation and communication for efficient execution.

The Chief Executive Officer (CEO) of Saudi Fund for Development (SFD), Sultan Al-Marshad made the disclosure when he led a high-level delegation to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun in Abuja, yesterday.

The delegation is part of efforts to strengthen economic cooperation between Nigeria and the Asian country.

The meeting with Edun also included Saudi Arabia’s Ambassador to Nigeria, Faisal Alghamdi; Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole, and the Minister of State for Finance, Dr. Doris Uzoka-Anite.

The discussions centred on key areas of economic collaboration, including industrial development, renewable energy, and infrastructure investments aimed at driving economic growth, job creation, and poverty reduction.

A statement issued by the Director, Press and Public Relations, Mohammed Manga, quoted Edun as saying: “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.”


He applauded 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 marked an important milestone in efforts to foster sustainable development between the two nations, adding: “We are confident that through strategic planning and visionary leadership, we will achieve mutual prosperity.”

In his remarks, the SFD chief executive Sultan Al-Marshad reiterated Saudi Arabia’s dedication to fostering economic collaboration, confirming that his organisation was 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 underscored a renewed commitment by Nigeria and Saudi Arabia to advance sustainable development and economic growth through strategic partnerships and shared priorities.

FreeStuffsNG:
Nigeria is now a top investment destination for more than the Chinese .
Brazil, Saudi Arabia, Germany and more are still coming to invest in Nigeria.

Thank you Saudi Arabia for bringing your investments to Nigeria.

Thank you Asiwaju Bola Ahmed Tinubu.
May God bless Nigeria for ever!
Because of 30k, your common sense is not working properly.. You have been saying this since almost 2 years now but yet the masses are living in abject poverty.Dont you have shame?

FreeStuffsNG:
Nigeria is now a top investment destination for more than the Chinese .
Brazil, Saudi Arabia, Germany and more are still coming to invest in Nigeria.

Thank you Saudi Arabia for bringing your investments to Nigeria.

Thank you Asiwaju Bola Ahmed Tinubu.
May God bless Nigeria for ever!

Saudi Arabia has confirmed its preparedness to finance major infrastructure projects in Nigeria

fuckJones:
Nigeria is moving, our enemies are wailing

lexy2014:
how is this investment?

is this not a loan just like the one Nigeria has been taking from China?

"Brazil, Saudi Arabia, Germany and more are still coming..."

is that not future tense?

which of them has come?

FreeStuffsNG:
Smh. It's obvious that you didn't read the report and obviously not knowledgeable on the topic

FreeStuffsNG:
Nigeria is now a top investment destination for more than the Chinese .
Brazil, Saudi Arabia, Germany and more are still coming to invest in Nigeria.

Thank you Saudi Arabia for bringing your investments to Nigeria.

Thank you Asiwaju Bola Ahmed Tinubu.
May God bless Nigeria for ever!

Saudi Arabia has confirmed its preparedness to finance major infrastructure projects in Nigeria

Nwaikpe:
Jihadists are struggling very hard to make Nigerians feel like there can be any positive dividends in muslim muslim tickets.

Saudi Arabia, a third world industrially underdeveloped country wants to "partner on industrial devt."

las las sha, na 2 million dollars.

When they will go and invest $600 Billion in Christian America

FreeStuffsNG:
https://www.thisdaylive.com/index.php/2025/02/22/sarabia-confirms-move-to-finance-major-infrastructure-projects-in-nigeria-2/?amp