Nigerian President Tinubu to attend Saudi-Africa summit in Riyadh

ABUJA, Nov 8 (Reuters) – Nigeria’s President Bola Tinubu will attend the Saudi-Africa summit in Riyadh this week to draw overseas direct funding to Africa’s largest economic system and mobilize capital to construct wanted infrastructure, his workplace stated on Wednesday.

Tinubu has launched into the nation’s boldest reforms in a long time, which have been welcomed by buyers. He’ll go away for Riyadh, Saudi Arabia, on Thursday forward of the Nov. 10 summit, spokesperson Ajuri Ngelale stated in an announcement.

“Discussions on the first Saudi-Africa summit will revolve round supporting joint motion, enhancing political coordination, … facilitating financial transformation by means of analysis and the native growth of recent power options, all whereas bolstering cross-sectoral funding cooperation,” Ngelale stated.

Nigeria is searching for extra investments slightly than counting on debt to revive the economic system of Africa’s most populous nation fraught with double-digit inflation, overseas foreign money shortages, a weakening naira foreign money, widespread insecurity and crude oil theft.

Tinubu might be accompanied to Riyadh by a delegation of cupboard ministers together with for economic system and finance, finances and financial planning, overseas affairs, and schooling, in addition to the nationwide safety adviser, Ngelale stated.

Our Requirements: The Thomson Reuters Belief Rules.