Shettima Woos Saudi Investors, Says Nigeria Ready for Stronger Economic Alliance as Investment Summit Opens
By Pan Afric Reporters
Vice President Kashim Shettima has called for deeper economic collaboration between Nigeria and the Kingdom of Saudi Arabia, saying both countries possess enormous complementary strengths that can drive sustainable growth, investment, tourism and trade.
The call was made on Tuesday at the opening of the second edition of the Nigeria-Saudi Diaspora Investment and Tourism Exhibition in Abuja, where the Vice President said the time had come to expand bilateral relations beyond traditional cooperation into strategic economic partnerships capable of delivering long-term prosperity.
According to a press release issued by the Nigerians in Diaspora Commission (NiDCOM) and signed by its Head of Media, Public Relations and Protocols Unit, Abdur-Rahman Balogun, Shettima, represented by the Senior Adviser to the Vice President on Export Expansion, Aliyu Bunu Sheriff, said Nigeria remains one of Africa’s most attractive investment destinations under the economic reforms of President Bola Ahmed Tinubu’s administration.
Declaring the exhibition open, Shettima noted that while Nigeria is Africa’s largest economy and Saudi Arabia is one of the world’s fastest-growing economies, economic relations between both nations remain below their full potential.
He said the Federal Government is committed to creating a more investor-friendly environment through the Renewed Hope Agenda, while positioning Nigeria as a leading destination for investment in key sectors.
“Relations between Nigeria and Saudi Arabia remain narrowly framed despite the enormous opportunities available to deepen economic cooperation. Nigeria is implementing reforms that are improving the ease of doing business and creating opportunities for investors across critical sectors,” the Vice President said.
Shettima highlighted Nigeria’s expanding halal economy, identifying agriculture, livestock, Islamic banking and finance, food production, pharmaceuticals, tourism and other halal-compliant industries as major areas for investment.
Delivering the keynote address, the Minister of Information and National Orientation, Mohammed Idris, described the conference theme—“The Misconceptions, Challenges and Opportunities of Investing in Saudi Arabia and Nigeria Today”—as timely, noting that it provides an important platform for governments, businesses and investors from both countries to forge practical partnerships.
Idris said President Tinubu’s administration has continued to prioritise ease of doing business, human capital development and global competitiveness while strengthening security across Nigeria.
“Nigeria is ready to partner with Saudi Arabia. Nigerians living in Saudi Arabia should not only serve as ambassadors but also as catalysts for investment and national development,” the minister stated, assuring participants that the government would continue projecting Nigeria positively to boost investor confidence.
Also speaking, Kaduna State Governor Uba Sani, represented by the Commissioner for Business, Innovation and Technology, Mrs. Patience Fakai, said Kaduna has intensified efforts to attract domestic and foreign investment following the Federal Government’s economic reforms.
According to him, the state has improved security, infrastructure and the business climate, resulting in Kaduna being ranked as the second-best state for ease of doing business by the Presidential Enabling Business Environment Council (PEBEC).
The governor urged Saudi investors to explore Kaduna’s vast opportunities in mining, agriculture and tourism, noting that tourism remains largely untapped despite its enormous economic potential.
The Nigeria-Saudi Diaspora Investment and Tourism Exhibition, holding at the Shehu Musa Yar’Adua Centre, Abuja, is expected to facilitate business engagements, promote bilateral investment and strengthen economic cooperation between Nigeria and Saudi Arabia. It continues on Wednesday with investment sessions, exhibitions and business networking activities.
