President Bola Tinubu has assured potential investors in Saudi Arabia of a safe investment environment in Nigeria.
Speaking at the Saudi-Africa Summit in Riyadh, President Tinubu emphasized Nigeria’s business readiness and assured investors about experiencing some of the highest returns on investment globally.
In a statement from his Special Adviser on Media and Publicity, Ajuri Ngelale, President Tinubu shared that Nigeria is currently engaged in the process of economic diversification, aiming to move beyond dependence on oil and achieve lasting development.
The President emphasized Nigeria’s commitment to strengthening collaboration with Saudi Arabia in the fight against terrorist organizations like Boko Haram, ISWAP, and other violent extremist groups. These entities have been causing havoc in the Lake Chad and Sahel regions.
He said:
Furthermore, the President said that Nigeria is seeking a bilateral relationship that borders on diverse trade and investment opportunities.
He stated that the country is putting forward policies to redirect its economy from oil dependency to other sectors to generate revenue.
Earlier, TheWitness reported that Nigeria signed an MoU with Saudi Arabia on oil and gas cooperation.
This is according to Sen. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources.
He stated that the Memorandum of Understanding (MoU) between the countries signed at the Saudi-Arab-African Economic Conference in Riyadh, is tailored towards specific goals within the oil and gas sector aimed at fostering growth and prosperity in Nigeria’s energy industry.
He said,
