Saudi Arabia’s Crown Prince, Mohammed bin Salman bin Abdulaziz Al Saud in a meeting on the sidelines of the joint Arab-Islamic Summit in Riyadh expressed strong support for Nigeria’s ongoing economic reforms under President Bola Ahmed Tinubu.
The Crown Prince highlighted similarities to Saudi Arabia’s own path toward stability and growth and pledged to enhance cooperation, especially in sectors such as oil and gas, agriculture, and infrastructure.
The discussion centered on a proposed $5 billion trade facility agreement between Nigeria and Saudi Arabia, with hopes of advancing investments like the Saudi Agricultural and Livestock Investment Company’s (SALIC) recent $1.24 billion stake in Nigeria’s Olam Agri.
This collaboration, the Saudis believe, could position Olam as a global agro-allied leader.
Prince Mohammed assured Tinubu of his commitment to ensuring success in these areas, saying, “We will motivate our team to realize the partnerships discussed.” Several Saudi officials, including the ministers of defense and national guard, were also present at the meeting.
Meanwhile, the summit concluded with a renewed mandate for Nigeria and other members of the Ministerial Committee to intensify global diplomatic efforts for peace in Gaza and Lebanon.
The summit’s final resolution denounced recent Israeli actions in northern Gaza as “crimes of genocide” and reaffirmed a commitment to Palestinian sovereignty, describing East Jerusalem as the “eternal capital of Palestine.”
The joint committee, composed of foreign ministers from Nigeria, Egypt, Qatar, Turkey, Indonesia, Palestine, and Jordan, will submit regular updates as they pursue international support to resolve the ongoing conflict.
The summit also emphasized Lebanon’s security, calling for stability and support for its citizens amidst the conflict.
