Saudi Government Invests In Nigeria

   The Government of Saudi Arabia has pledged to invest in the revamping of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms.

Saudi Crown Prince, Mohammed bin Salman, made these pledges at a bilateral meeting with President Bola Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.

According to a statement by the minister of information, Mohammed Idris, on Friday, Saudi Arabia promised to support the Central Bank of Nigeria’s ongoing reforms of Nigeria’s foreign exchange regime with the Saudi Government making available a substantial deposit of foreign exchange to boost Nigeria’s forex liquidity.

Prince Bin Salman commended the economic reforms being implemented by President Tinubu, and expressed the commitment of the Saudi Government to supporting the reforms, and enabling Nigeria to reap the full benefits.