President Bola Tinubu is scheduled to embark on an official visit to Riyadh, the capital of the Kingdom of Saudi Arabia, where he will participate in the Saudi-Africa Summit on November 10 and the Arab African Summit on November 11, 2023.
These events signal fresh efforts to engage Arab nations, attract businesses, and secure additional Foreign Direct Investment (FDI) for Nigeria.
Announcing the President’s participation in the summits, Special Adviser to the President on Media and Publicity, Ajuri Ngelale, highlighted the objectives of the visit.
The Saudi-Africa Summit aims to address areas of mutual concern, including economic ties, counterterrorism, environmental issues, agriculture, and more.
It seeks to promote trade and investment between Saudi Arabia and the African continent.
President Tinubu’s attendance at the Arab-African Summit in his capacity as the Chairman of the ECOWAS Authority of Heads of Government is expected to deepen collaboration between the League of Arab Nations and the African Union.
The partnership is aimed at enhancing infrastructure integration and establishing a high-speed train network connecting Arab nations from the Middle East and Northern Africa with the rest of the continent.
The visit is part of a broader strategy to leverage the opportunities presented by the African Continental Free Trade Agreement (AfCFTA) and foster stronger economic connections, commerce, and trade relations between Nigeria and Saudi Arabia, as well as the entire Arab world.
Ngelale emphasized that the President will be proactive in promoting new foreign direct investments (FDIs) and meeting with investors across various sectors.
His goal is to attract fresh capital inflows into Nigeria’s growth-enabling and labor-intensive sectors to reinvigorate the country’s economy.
As President Tinubu embarks on this diplomatic mission, the nation looks forward to the tangible results and benefits that will emerge from these summits, aligning with his vision to drive economic growth and prosperity for Nigeria.
