In a bid to foster stronger economic collaboration, the Central Bank of Nigeria (CBN) and the Kingdom of Saudi Arabia have reaffirmed their commitment to expanding investment and trade partnerships across key sectors.

CBN Governor Olayemi Cardoso, during a high-level meeting with the Saudi Arabian Ambassador to Nigeria, Faisal bin Ibrahim Alghamdi, emphasized Nigeria’s readiness to explore new opportunities that will drive economic prosperity for both nations.

“The Central Bank of Nigeria remains committed to advancing partnerships that will deepen economic ties between Nigeria and Saudi Arabia. We will continue to explore opportunities that yield tangible benefits for both countries,” Cardoso stated.

The discussion, held at the CBN headquarters, highlighted strategic areas of cooperation, including renewable energy, agriculture, and financial sector development. 

The Saudi delegation, led by Alghamdi, expressed strong interest in strengthening trade and investment ties with Nigeria, citing the Kingdom’s commitment to fostering sustainable economic growth.

“We are eager to strengthen our relationship with Nigeria and explore mutually beneficial opportunities that will contribute to the prosperity of both nations,” Alghamdi remarked, reaffirming Saudi Arabia’s support for economic partnerships.

Cardoso also acknowledged the Kingdom’s efforts in hosting global economic forums, including the recently concluded AIUla event, which provided valuable insights into economic diversification and infrastructure development.

Earlier, on the sidelines of the inaugural Conference on Emerging Markets Economies in Saudi Arabia, the CBN Governor engaged in discussions with Talal Al-Humond, Assistant Governor for Monetary Affairs at the Saudi Central Bank (SAMA). 

The talks focused on strengthening financial cooperation, leveraging Saudi Arabia’s expertise in large-scale infrastructure projects, and engaging the Nigerian diaspora to boost remittance inflows.

With both nations committed to deepening their economic ties, the meeting marks a new phase of cooperation aimed at unlocking growth opportunities and driving long-term economic stability.