Segun Atanda/
The Crown Prince and Prime Minister of Saudi Arabia, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, has pledged support for Nigeria’s ongoing economic reform initiatives.
The assurance was given during a meeting with President Bola Ahmed Tinubu on Monday in Riyadh, held on the sidelines of the Joint Arab-Islamic Summit.
During their discussions, both leaders identified strategic areas for collaboration, particularly in oil and gas, agriculture, infrastructure, and the formation of the Saudi-Nigeria Business Council.
President Tinubu sought a framework for a proposed $5 billion bilateral trade facility between Nigeria and Saudi Arabia.
Saudi Arabia’s Agricultural and Livestock Investment Company (SALIC) has already made a significant investment, acquiring a 35.43% stake in Nigeria’s Olam Agri for $1.24 billion in 2022. Talks are ongoing to increase SALIC’s stake in the company, aiming to position Olam among the world’s largest agro-allied businesses.
The Crown Prince praised President Tinubu’s economic reforms, drawing parallels to similar initiatives that have bolstered Saudi Arabia’s stability and growth under his leadership. He reaffirmed his commitment to support Nigeria and promised to mobilize his team to facilitate partnerships in key areas identified during their discussions.
Accompanying the Crown Prince at the meeting were the Saudi Minister of National Guard, Prince Abdullah bin Bandar bin Abdulaziz, the Minister of Defense, Prince Khalid bin Salman bin Abdulaziz, and other senior officials.
Meanwhile, the Joint Arab-Islamic Summit renewed Nigeria’s mandate, along with other member states, on the Ministerial Committee focused on engaging global leaders to seek an end to the conflicts in Gaza and Lebanon. This decision was part of the resolutions adopted at the extraordinary summit held in Riyadh on November 11, 2024.
The summit brought together President Tinubu and other leaders from the Organisation of Islamic Cooperation (OIC) and the League of Arab States. The Joint Arab-Islamic Ministerial Committee, established at the First Joint Arab-Islamic Summit on November 11, 2023, is led by Saudi Arabia and includes the foreign ministers of Nigeria, Egypt, Qatar, Turkey, Indonesia, Palestine, and Jordan.
In its final resolution, the summit urged the Ministerial Committee to “intensify its efforts, expanding its scope to address the aggression on Lebanon.”
The committee will regularly submit reports, which will be circulated by the OIC and League of Arab States to their member states.
The committee was further tasked with enhancing cooperation with actors in the Global South to garner broader international support to end the conflict and occupation in Palestine.
The summit resolution emphasized the protection of sea lanes in accordance with international law and celebrated a new tripartite mechanism signed by the League of Arab States, the OIC, and the African Union in support of the Palestinian cause. The leaders also acknowledged the African Union’s steadfast backing of Palestine.
In a strong condemnation of recent Israeli actions in northern Gaza, the summit described them as “crimes of genocide,” citing reports of torture, executions, disappearances, and “ethnic cleansing.”
Leaders reiterated that East Jerusalem is the “eternal capital” of Palestine, calling for the unification of the West Bank, Gaza Strip, and East Jerusalem under a sovereign Palestinian state.
The summit reaffirmed “the full sovereignty of the State of Palestine over occupied East [Jerusalem], the eternal capital of Palestine,” rejecting any Israeli attempts to alter the city’s identity or enforce its occupation.
Additionally, the summit expressed unreserved support for Lebanon’s security, stability, sovereignty, and the welfare of its citizens.
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