VANGUARD
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the economic diplomacy carried out by President Bola Tinubu around the world is generating the desired results.The minister said this while briefing State House correspondents after a meeting with the president in Lagos on Sunday.
Edun said the president had embarked on fruitful economic diplomacy on all the continents: Brazil in South America; China and India in Asia, as well as Germany and France in Europe, and elsewhere.
He said, as a follow-up on economic diplomacy, he led a delegation to Riyadh, Saudi Arabia, recently to ensure the success of the developing relationship between him and Mohammed bin Salman, the Crown Prince.
The News Agency of Nigeria (NAN) reports the delegation included Sen. Abubakar Bagudu, the Minister of Budget and National Planning, and Mr Wale Tinubu, a member of the Presidential Economic Coordination Council.
Others were Ms. Sanyade Okoli, Special Adviser to the President on Finance and the Economy, and Mr Muhammad Abdullahi, Deputy Governor, Central Bank of Nigeria (Economic Policy).
The delegation held talks with Saudi EXIM Bank, the Saudi Development Fund, and the Saudi Agricultural and Livestock Investment Company (SALIC) to advance ongoing conversations about their investments in Nigeria.
“Twice in the last year, Mr President has been in Saudi Arabia, had meetings with the Crown Prince, and talked about trade, economic cooperation, financial cooperation, and collaboration.“
We just followed up on some of those leads across the various opportunities for foreign direct investment, trade partnerships, and even financial investment,” said Edun.
He said the Saudi Agricultural Livestock Investment Company had on December 23 increased its investment in Olam by $1.2 billion.
Edun said the president had taken steps to stabilise the Nigerian macroeconomic environment to encourage such investments in the country.
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