Nigeria-Saudi Agreement: Strengthening Nigeria’s economic horizon

Nigeria-Saudi Agreement: Strengthening Nigeria’s economic horizon
By Ismail Abdulaziz, News Agency of Nigeria
President Bola Tinubu’s preference for market driven economy has been consistent, and since assumption of office has steered the Nigerian economy towards greater strides with focus on attracting foreign direct investment into the economy.

Under Tinubu, Nigeria has been undertaking its boldest reforms in decades, scrapping the popular petrol subsidy and unifying the country’s multiple exchange rates as part of measures to improve ease of doing business in the country.

The recent Saudi-Africa Summit was an apt platform to push for collaboration and cooperation in various sectors beneficial to the Nigerian economy.

The opportunity was fully exploited by Nigeria to deepen economic relationship with Saudi Arabia which has the largest economy in the Middle East and is the 18th-largest economy in the world.

Saudi Arabia like Nigeria is a member of OPEC, and both have valuable natural resource reserves in petroleum and natural gas.

By Ximena Aima

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