Tinubu To Attend Two Economic Summits In Saudi Arabia To Boost Foreign Investment

In a strategic move aimed at bolstering Nigeria’s economic growth and strengthening international ties, President Bola Tinubu is set to attend the Arab-African and Saudi-Africa summits scheduled to take place in Riyadh, Kingdom of Saudi Arabia, on November 10-11.

This significant development was officially announced by Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, during a press briefing held at the State House in Abuja on Sunday.

Ngelale emphasized that President Tinubu’s participation in these summits is driven by the administration’s unwavering commitment to harnessing every available avenue to attract Foreign Direct Investment (FDI) into various sectors of Nigeria’s economy.

During these high-level diplomatic engagements, President Tinubu intends to capitalize on the opportunity to draw in substantial foreign investments that will have tangible economic benefits not only for Nigeria but also for the African continent as a whole.

The Special Adviser stated, “The president will be aggressively pursuing genuine foreign investors across diverse sectors of the economy, as he has consistently done in his previous engagements.”

In addition to President Tinubu, the Nigerian delegation will comprise key cabinet members, prominent members of the business community, and other relevant government functionaries. These collective efforts aim to foster stronger bilateral relations and facilitate mutually beneficial collaborations.

Ngelale also revealed that President Tinubu would provide comprehensive briefings during various meetings with potential investors to highlight the tremendous investment opportunities available in Nigeria.

The Arab-African Summit, one of the key events on the summit agenda, seeks to establish practical solutions for enhancing Arab-African cooperation and bridging the gap with emerging international powers in Africa.

The summit’s overarching goals include the identification of areas for collaboration, the development of a shared vision for knowledge and experience sharing, and the establishment of projects and frameworks to enhance both bilateral and multilateral ties between Arab and African nations.

Among the specific objectives of the summit are the revitalization of Arab-African relations, the addressing of conflicts and counter-terrorism issues, and the tackling of various challenges such as poverty alleviation, education improvement, healthcare access, food security, and broader development initiatives.

Additionally, the summit will address pressing global issues like climate change, migration, and humanitarian aid.

Notably, this summit marks a significant return, as the last Arab-African Summit was held in 2016. Its revival signifies a renewed commitment to fostering stronger regional and international cooperation, with Nigeria under President Tinubu’s leadership playing a pivotal role in shaping the continent’s future.

As President Tinubu gears up for these crucial summits, the nation eagerly anticipates the outcomes that will contribute to Nigeria’s economic development and elevate its stature on the global stage.