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Saudi Government To Invest in Nigeria Refineries Support Central Bank Reforms
The Government of Saudi Arabia has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms.
Saudi Crown Prince, HRH Mohammed bin Salman made these pledges at a bilateral meeting with President Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.
To support the Central Bank’s ongoing reforms of Nigeria’s foreign exchange regime, the Saudi Government will make available a substantial deposit of foreign exchange to boost Nigeria’s forex liquidity.
Prince bin Salman commended the economic reforms being implemented by President Tinubu, and expressed the commitment of the Saudi Government to supporting these reforms, and enabling Nigeria to reap the full benefits. According to him, Saudi Arabia is very eager to see Nigeria thrive under President Bola Tinubu, and realize its full potential as the economic giant of Africa.
In addition to these, Prince bin Salman also highlighted Agriculture and Renewable Energy as areas of investment interest for Saudi Arabia, in Nigeria, to help the country attain food and energy security, respectively.
The Crown Prince hinted that the refinery investments in Nigeria will be led by the Saudi state-owned oil company, Saudi Aramco, with the revamp to be completed within a two- to three-year timeframe.
The Crown Prince also expressed appreciation to Nigeria for its active participation in, and support for OPEC+.
President Tinubu thanked the Saudi leader for the proposed investments, and pledged that Nigeria would ensure judicious management and oversight. The two leaders vowed to work together over the next six months to develop a comprehensive road-map and blueprint to deliver on the agreed investments and outcomes.
Also, President Tinubu and Crown Prince bin Salman spoke on the need to strengthen security cooperation to mitigate terrorism, illegal migration and other crises, not just in Nigeria, but across West Africa and the Sahel region.
The two leaders further discussed existing economic and socio-cultural cooperation between Nigeria and Saudi Arabia, and agreed to open new vistas in bilateral relations.
The bilateral meeting was attended by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, Minister of Information and National Orientation, Mohammed Idris, Nigerian Ambassador to Saudi Arabia, Ambassador Yahaya Lawal and the state Chief of Protocol, Ambassador Adekunle Adeleke.
Mohammed Idris
Minister of Information and National Orientation.
News
Musawa Seeks Broader Significance for June 12
Joel Ajayi
The Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, Esq., says June 12 must be remembered as a sacrifice that gave Nigerians democracy, beyond its status as a public holiday.
In a statement signed on Saturday by the Senior Assistant Media & Publicity to the Honourable Minister,Federal Ministry of Art, Culture, Tourism and the Creative Economy Dr Nneka Ikem Anibeze Ph.D in Abuja.
Musawa stated this at the national premiere of “MKO”, a film on Chief Moshood Abiola, held at the Wole Soyinka Centre for Culture and Creative Arts, Lagos, to mark Nigeria’s 66th Independence Anniversary.
She said 33 years after June 12, 1993, many young Nigerians know it only as a holiday, but the film turns it back into memory.
“For too many young Nigerians, June 12 is simply a public holiday. This film tells them that our democracy did not arrive by chance. It was fought for. It was defended. It was paid for. This documentary is in honour of the heroes of June 12, the men and women who gave their lives for the mandate of June 12, 1993 and for the democracy Nigeria enjoys today,” the Minister said.
Musawa hailed President Bola Ahmed Tinubu, Chief Host, for his participation in the June 12 struggle and paying the price in exile, adding that Nigeria’s creative industry will keep telling the story of its democracy with courage.
“Through film and the creative economy, Nigeria will preserve its history. A nation that forgets its past loses its way to the future. Nigeria has a story and our story deserves to be told,” she said.
Earlier, the director of the investigative documentary, Ose Oyamendan, said the film was in honour and memory of heroes who fought for Nigeria’s democracy.
“There was Hope ’93 and now there is Renewed Hope. There was a man who sacrificed his life so we may have democracy and there is a man who almost lost his life fighting for democracy who is now helping build a lasting democracy.
“There was a great man called Bashorun MKO Abiola and there is now another great man called Asiwaju Bola Ahmed Tinubu. Democrats. Nationalists. Nation builders. Leaders of men and women. We must never forget our story. We must always honour and remember our heroes,” Oyamendan said.
Top government officials including President Bola Ahmed Tinubu, the wife of the President Senator Oluremi Tinubu; Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, Chairman of the Nigeria Governors’ Forum AbdulRahman AbdulRazaq, Chief of Staff to the President Rt. Femi Gbajabiamila, state Governors, members of the National Assembly, Ministers and other distinguished dignitaries attended the premiere.
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