*Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister of Saudi Arabia, assured Nigeria of support for President Bola Ahmed Tinubu administration鈥檚 economic reform programmes

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Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister of Saudi Arabia, has assured Nigeria of support in its economic reform programmes.

The Crown Prince gave the assurance Monday, November 11, 2024, when he met with President Bola Ahmed Tinubu in Riyadh, Saudi Arabia, on the sidelines of the joint Arab-Islamic Summit.

The Federal Government, in a statement issued Tuesday, November 12 said the two leaders explored potential areas for cooperation, particularly oil and gas, agriculture, infrastructure, and the constitution of the Saudi-Nigeria Business Council.

It is also noted that Nigeria wants an agreement with the Saudi Government over a

proposed $5 billion bilateral trade facility between the two countries.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, also stated the Saudi Agricultural and Livestock Investment Company (SALIC) had invested $1.24 billion, in 2022, to acquire a 35.43 percent stake in Olam Agri, one of Nigeria鈥檚 leading agricultural firms.

鈥淭alks are being held so that SALIC can have more stake in the company.

鈥淭he Saudis hoped the investment would make Olam one of the biggest agro-allied businesses in the world,鈥� Onanuga said.

Commendation for Tinubu administration鈥檚 economic reforms

The Crown Prince as well commended President Tinubu鈥檚 economic reforms, noting similarities to his steps to strengthen Saudi Arabia鈥檚 stability and development when he became Prime Minister.

The statement further noted he assured the West African country of his support, and promised to motivate his team to realise the various areas of partnerships discussed at the meeting.

The Presidential aide disclosed in attendance at the meeting with the Crown Prince were the Saudi Minister of National Guard, Prince Abdullah bin Bandar bin Abdulaziz, the Minister of Defence, Prince Khalid bin Salman bin Abdulaziz, and several senior officials.

Joint Arab-Islamic Summit renews Nigeria mandate on Ministerial Committee

Meanwhile, the Joint Arab-Islamic Summit has renewed the mandate of Nigeria and other member states on the Ministerial Committee assigned to engage with global leaders in seeking an end to the ongoing war in Gaza and Lebanon.

This decision was part of the resolution issued after the extraordinary Joint Arab-Islamic Summit, which took place in Riyadh, Saudi Arabia, on November 11, 2024.

President Bola Tinubu and other leaders from the Organisation of Islamic Cooperation (OIC) and the League of Arab States were in attendance.

The Joint Arab-Islamic Ministerial Committee, led by the Kingdom of Saudi Arabia, was formed by a resolution at the First Joint Arab-Islamic Summit in Riyadh on November 11, 2023.

The group includes the foreign ministers of Nigeria, Egypt, Qatar, Turkey, Indonesia, Palestine, and Jordan.

In its final resolution, the summit urged the Ministerial Committee to 鈥渋ntensify its efforts and expand them to include working on ending the aggression on Lebanon.鈥�

The committee will submit periodic reports, which the secretariats of the OIC and the League of Arab States will circulate to member states.

The Committee has also been tasked with further engaging actors across the Global South in the efforts to strengthen international support towards ending the war and Israeli occupation.

The resolution stressed the importance of protecting sea lanes by rules of international law and welcomed the signing of the tripartite mechanism by the League of Arab States, OIC, and the African Union to support the Palestinian cause.

The summit praised the African Union鈥檚 steadfast support of Palestine.

The leaders condemned recent Israeli military actions in northern Gaza, describing them as 鈥渃rimes of genocide,鈥� including allegations of torture, executions, disappearances, and 鈥渆thnic cleansing.鈥�

They also criticised ongoing efforts at solidifying Israel鈥檚 presence in occupied East Jerusalem.

The global leaders as well reaffirmed the city as the 鈥渆ternal capital鈥� of Palestine and calling for the unification of the West Bank, Gaza Strip, and East Jerusalem under a sovereign Palestinian state.

The statement added the resolution reiterated 鈥渢he full sovereignty of the State of Palestine over occupied East (Jerusalem), the eternal capital of Palestine鈥�. It rejected any Israeli actions aimed at altering the city鈥檚 identity or consolidating its occupation.

The summit also expressed unwavering support for Lebanon鈥檚 security, stability, sovereignty, and the safety of its citizens.

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