President Bola Tinubu is scheduled to enhance economic and political connections between Nigeria and the Arab world this week as he participates in Saudi-Africa and Arab-Africa summits in Saudi Arabia. Ajuri Ngelale, the presidential spokesman, shared this information with State House correspondents at the Presidential Villa in Abuja on Sunday,leadership report.
During the November 10 and 11, 2023 Saudi-Africa summit and Arab-African Summit in Riyadh, Tinubu aims to foster greater foreign direct investment (FDI) and business collaborations between Arab nations and Nigeria, as well as the broader African region.
According to the presidential media aide, Tinubu will engage with Saudi and other Arab leaders to discuss shared interests in areas such as trade, counterterrorism, agriculture, infrastructure, and environmental matters. Additionally, discussions will revolve around accelerating trade and investment between the Kingdom of Saudi Arabia and the African continent.
Ngelale noted, “President Tinubu is determined to position the Federal Republic of Nigeria within the continental context to take full advantage of opportunities arising from the implementation of the African Continental Free Trade Agreement. This agreement will create a single trade market encompassing over 1 billion Africans. According to the United Nations Economic Commission for Africa, by 2050, the African market is expected to exceed $29 trillion.”
During the trip, the President will play an active and leading role in these efforts. At the Arab African summit on November 11, President Tinubu, also serving as the Chairman of the Authority of Heads of Government of ECOWAS, will be a key participant. He will advocate for deeper collaboration between the League of Arab Nations and the African Union, particularly concerning infrastructure integration, facilitation, and the establishment of a high-speed train network linking Arab nations in the Middle East and Northern Africa to the rest of the African continent.