Mohammed bin Salman, the crown prince and prime minister of Saudi Arabia, has commended President Bola Tinubu over his economic reforms.
Salman gave the commendation at the sidelines of the Joint Arab-Islamic Summit in Riyadh, the capital of Saudi Arabia.
A statement on Tuesday by Bayo Onanuga, the president’s special adviser on information and strategy, said Tinubu and Salman explored areas for cooperation, particularly oil and gas, agriculture, infrastructure and the constitution of the Saudi-Nigeria business council.
Onanuga said Nigeria is seeking an agreement with the Saudi government over a proposed $5 billion bilateral trade facility between the two countries.
“The Saudi Agricultural and Livestock Investment Company (SALIC) invested $1.24 billion in 2022 to acquire a 35.43% stake in Olam Agri, one of Nigeria’s leading agricultural firms,” the statement reads.
“Talks are being held so that SALIC can have more stake in the company. The Saudis hoped the investment would make Olam one of the biggest agro-allied businesses in the world.
“The Crown Prince commended President Tinubu’s economic reforms, noting similarities to his steps to strengthen Saudi Arabia’s stability and development when he became Prime Minister.
”He also assured Nigeria of his support and promised to motivate his team to realise the various areas of partnerships discussed at the meeting.”
He said the summit has renewed the commitment of Nigeria and other member states on the ministerial committee assigned to engage with global leaders in seeking an end to the ongoing war in Gaza and Lebanon.
The committee will submit periodic reports, which the secretariats of the Organisation of Islamic Cooperation (OIC) and the League of Arab States will circulate to member states.
“The Committee has also been tasked with further engaging actors across the Global South in the efforts to strengthen international support towards ending the war and Israeli occupation.
”The resolution stressed the importance of protecting sea lanes by rules of international law and welcomed the signing of the tripartite mechanism by the League of Arab States, OIC, and the African Union to support the Palestinian cause.”
He said the leaders condemned Israeli military actions in northern Gaza, describing them as “crimes of genocide”.