- Buhari To Attend Economic Forum In Saudi Arabia
President Muhammadu Buhari will attend the Economic Forum of the Future Investment Initiative (FII) organised by Saudi’s Public Investment Fund (PIF) in Riyadh, Saudi Arabia.
The event themed What’s Next for Global Business? will hold from October 29-31 and focus on three key pillars: Sustainable Future, Technology for Good and Advanced Society.
A statement by the Presidency reads: “Given the increased investor confidence in Nigeria’s economy, President Buhari will use the occasion to speak about the economic opportunities that abound in Nigeria, the effectiveness of his administration’s policies to improve the business environment and invite investors to the country.
“It is noteworthy that the total value of capital inflow into Nigeria increased from US$12 billion in the first half-year of 2018 to US$14 billion for the same period in 2019.
“The Nigerian delegation will leverage on the resources in Saudi’s PIF, which aims at becoming one of the largest and most impactful sovereign wealth funds in the world, to seek foreign investments in critical projects in the country’s oil and gas sector, particularly the Ajaokuta-Kaduna-Kano (AKK) gas Pipeline – the 614 km-long natural gas pipeline currently being developed by the Nigerian National Petroleum Corporation.
“Nigerian officials will see also take advantage of the summit to accelerate discussions on the planned interest of the Saudi oil company, Aramco, to revamp Nigeria’s refineries and new investments in the oil and gas sector.”
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, further disclosed that “On the sideline of the event, President Buhari will hold bilateral talks with His Majesty King Salman and His Majesty King Abdullah ll of Jordan.
“On Wednesday, 30th October, 2019, the President will participate in the High-Level Event titled “What is Next for Africa: How will Investment and Trade Transform the Continent into the Next Great Economic Success Story?” with Presidents of Kenya, Congo-Brazzaville and Burkina Faso.
After the economic summit, the President would also proceed on a 2-week private visit to the United Kingdom, as he is expected to return to the country on 17th November 2019.”