President Bola Tinubu will be attending the Saudi-Africa summit in Riyadh this week to pull foreign direct investment to Africa’s largest economy and bring in capital to build needed infrastructure.
Tinubu has embarked on the country’s biggest and daring reforms seen in decades– a revision that has been welcomed by investors. The President will leave for Riyadh, Saudi Arabia, on Thursday, November 9, ahead of the November 10 summit, Ajuri Ngelale, the spokesperson to the president had said in a statement.
Ngelale had said;
“Discussions at the first Saudi-Africa summit will mostly centre around supporting joint action, boosting political coordination, encouraging economic transformation through research and the local development of new energy solutions, all while strengthening cross-sectoral investment cooperation.”
Nigeria is looking to garner more investments rather than relying on debt to resuscitate the economy of Africa’s most populous nation rife with double-digit inflation, foreign currency scarcity, a debilitated Naira currency, prevalent insecurity and crude oil theft.
Tinubu will be accompanied to Riyadh by a contingent of cabinet ministers including the minister for economy and finance, the minister for budget and economic planning, minister for foreign affairs, and education, and the national security adviser.
