Saudi Investment in Nigeria: A Game Changer for Poverty Alleviation

The Saudi government and its investors are planning to invest in agriculture, solid minerals mining, and finance in Nigeria, creating job opportunities that could lift millions of vulnerable Nigerians out of poverty. Dr. Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, expressed her excitement about this at the Saudi-Africa Investment Summit in Riyadh. She described the gesture as a welcome development and a huge achievement of President Bola Ahmed Tinubu’s Renewed Hope drive. Dr. Edu, who was part of the president’s delegation to Saudi Arabia, said Nigeria is determined to end multi-dimensional poverty by 2030. She emphasized that the opportunity provided by the Saudi-Africa Summit aligns with the poverty alleviation and job creation agenda of President Tinubu. The Minister also highlighted the Kingdom of Saudi Arabia’s partnership with Nigeria in the humanitarian and poverty alleviation cluster of the federal government. President Bola Ahmed Tinubu, who attended the Saudi-Africa Summit, attracted significant investment to Nigeria, including investment to revamp local refineries. He assured potential investors that Nigeria is ready for business and offers some of the world’s highest returns on investments. President Tinubu also emphasized the special relationship between Nigeria and Saudi Arabia, which has spanned over 60 years.

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