Saudi Arabia backs Nigeria’s economic reforms with $5bn bilateral trade facility

President Bola Ahmed Tinubu and Saudi Crown Prince Mohammed bin Salman have pledged to strengthen Nigeria’s economy through strategic collaborations in energy, agriculture, and infrastructure.

The two leaders made this commitment on the sidelines of the Joint Arab-Islamic Summit in Riyadh, Saudi Arabia, on Monday.

According to a statement issued on Tuesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Crown Prince Mohammed bin Salman expressed support for Nigeria’s ongoing economic reforms, likening them to his own efforts to stabilize and strengthen Saudi Arabia since becoming Prime Minister.