According to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, President Bola Tinubu’s global economic diplomacy is producing the expected outcomes.
After meeting with the president in Lagos on Sunday, the minister gave a briefing to State House media.
According to Mr. Edun, the president has started a successful economic diplomacy campaign across every continent, including South America’s Brazil, Asia’s China and India, Europe’s Germany and France, and other places.
He said that he recently led a trip to Riyadh, Saudi Arabia, as part of an economic diplomacy follow-up to make sure that his growing connection with Crown Prince Mohammed bin Salman was successful.
Wale Tinubu, a member of the Presidential Economic Coordination Council, and Abubakar Bagudu, the Minister of Budget and National Planning, were among the delegation members.
Muhammad Abdullahi, deputy governor of the Central Bank of Nigeria, and Sanyade Okoli, Special Advisor to the President on Finance and the Economy, were among the others.
To further continuing discussions regarding their interests in Nigeria, the group met with the Saudi Agricultural and Livestock Investment Company, the Saudi Development Fund, and the Saudi EXIM Bank.
“The President has met with the Crown Prince twice in the past year while in Saudi Arabia, discussing trade, financial cooperation, and economic cooperation.
According to Mr. Edun, “we just followed up on some of those leads across the various opportunities for financial investment, trade partnerships, and foreign direct investment.
“According to him, the Saudi Agricultural Livestock Investment Company expanded its stake in Olam by $1.2 billion on December 23.
Mr. Edun went on to say that the president had taken action to promote these investments and stabilize the macroeconomic climate in Nigeria.
According to the minister, the visit’s main conclusions included potential foreign exchange, investments, and employment opportunities for Nigerians.
Saudi Arabia’s demographics show that, in contrast to some of the other large, populous Asian nations, they will not be exporting their citizens to the level that they are investing elsewhere.
The Olam deal has been planned for a long time. It came to pass this year after being first addressed at the inaugural Business Council Meeting in Saudi Arabia last year, according to Mr. Edun.
