Tinubu and Saudi Crown Prince Pledge to Boost Nigeria-Saudi Ties in Energy, Agriculture, and Infrastructure
President Bola Ahmed Tinubu and Saudi Crown Prince Mohammed bin Salman have committed to strengthening Nigeria’s economy through collaborations in energy, agriculture, and infrastructure, agreeing to explore the establishment of a Nigeria-Saudi Business Council. The two leaders reached this understanding during discussions on the sidelines of the Joint Arab-Islamic Summit in Riyadh on Monday.
President Tinubu, who returned to Nigeria on Tuesday evening, was welcomed by key government officials, including his Chief of Staff, Femi Gbajabiamila; Finance Minister Wale Edun; and Federal Capital Territory Minister Nyesom Wike. According to Bayo Onanuga, Special Adviser on Information and Strategy, the Saudi Crown Prince expressed full support for Nigeria’s economic reforms, likening Tinubu’s policies to the transformative measures he has pursued to modernize Saudi Arabia.
A focal point of the talks was the Saudi Agricultural and Livestock Investment Company (SALIC), which in 2022 acquired a 35.43% stake in Nigerian agro-industrial firm Olam with a $1.24 billion investment. Future SALIC investments are under discussion, aimed at expanding Olam’s role on the global agricultural stage.
At the summit, Tinubu and other leaders from the Organisation of Islamic Cooperation (OIC) and the League of Arab States addressed the escalating conflict in Gaza and Lebanon. The gathering concluded with a renewed mandate for Nigeria and other member states on the Joint Arab-Islamic Ministerial Committee, established to engage global leaders in seeking peace.
The committee, led by Saudi Arabia, includes foreign ministers from Nigeria, Egypt, Qatar, Turkey, Indonesia, Palestine, and Jordan. A key resolution urged the committee to intensify efforts to end aggression in Lebanon and expand engagement with the Global South for wider international support to resolve the conflict. Additionally, the summit reinforced support for Palestine, condemning recent Israeli military actions in Gaza and asserting East Jerusalem as the “eternal capital” of a future Palestinian state.
The leaders emphasized Lebanon’s security and sovereignty, decrying alleged human rights abuses in Gaza and reaffirming commitment to a unified Palestinian state across the West Bank, Gaza, and East Jerusalem. The summit also praised the African Union’s support for Palestine, welcoming a new tripartite agreement between the Arab League, OIC, and African Union to bolster the Palestinian cause.
The high-level discussions between Tinubu and the Saudi Crown Prince, as well as Nigeria’s role in diplomatic peace efforts, underscore Nigeria’s growing influence in the international arena and its strategic ties with Saudi Arabia in economic development.
