The Central Bank of Nigeria (Nigeria) is looking at key areas of cooperation that could further cement existing economic cooperation between Nigeria and Saudi Arabia.
Governor of the Bank, Mr. Olayemi Cardoso, who raised the prospect of such cooperation wants a more robust economic system of partnership that would be fruitful in the long run.
He therefore reiterated the Bank’s dedication to enhancing economic cooperation betweenNigeria and the Kingdom of Saudi Arabia.
During a courtesy visit to the CBN headquarters by the Ambassador of the Kingdom of Saudi Arabia to Nigeria, H.E. Faisal bin Ibrahim Alghamdi, and his delegation recently, Mr. Cardoso emphasised the Bank’s commitment to fostering partnerships across critical sectors that drive economic growth.
He stated that the CBN is prepared to play a critical role in fostering collaboration and that the two countries would see substantial economic benefits from improved cooperation.
“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,” Mr. Cardoso stated.
He also commended the Saudi government for its hospitality during the recently concluded AIUla event, hosted by the Saudi Ministry of Finance in collaboration with the International Monetary Fund (IMF) Regional Office in Riyadh.
In his response, Ambassador Alghamdi expressed appreciation for the warm reception from the CBN Governor and reiterated Saudi Arabia’s interest in expanding bilateral cooperation. He emphasised the Kingdom’s readiness to work with Nigeria in key economic sectors, particularly in Renewable energy, Agriculture, and Water connectivity.
“We are eager to strengthen our relationship with Nigeria and explore mutually beneficial opportunities that will contribute to the prosperity of both nations,” Ambassador Alghamdi stated.
The visit marks another milestone in Nigeria-Saudi relations, as both countries seek to leverage their respective strengths for long-term economic growth and stability.