Speaker of the House of Representatives Abbas Tajudeen has called for strategic partnership with the Kingdom of Saudi Arabia to shore up investment opportunities in Nigeria.
Abbas made the call when the Saudi Arabia-Nigerian Parliamentary Friendship Group paid him courtesy visit on Wednesday
The speaker noted the age-long diplomatic ties between Nigeria and Saudi Arabia, spanning over 25 years advocating for more collaboration in the areas of trade and investment, tourism, oil and gas and infrastructure.
Represented by his deputy, Hon. Benjamin Kalu, Abbas said Nigeria envisioned a robust collaboration with Saudi Arabia that will go across various sectors including trade, investment and tourism.
He said Nigeria is tired of crude oil exports but wants to go into refining products and wants strategic partnerships with the Middle Eastern countries in that area, as well as infrastructure and agriculture.
Abbas also called for a balance of trade between both countries, stressing Nigeria‘s determination to grow its Gross Domestic Product (GDP).
“Our relationship has enjoyed an impressive, steady trajectory. I can assure you it will be impressive if you consider 19.5% annually since 1995. So, on your side, it‘s 19.5%, on our side 10.5 %. But you will find a way of balancing it. Like I just mentioned to you, the balance of trade is favouring you more than us now“, he said.
Abbas urged the Kingdom of Saudi Arabia to join hands with Nigeria and fight climate change and global warming challenges in Africa, assuring them of Parliamentary support where necessary.
Earlier in his presentation, the Acting Chairman of the group and leader of the delegation, Dr Abdullah Hamad Alsalamah said their mission was to ultimately seek new ways to strengthen the partnership with Nigeria in areas of mutual benefits.
“We look to the country as a strategic partner, Nigeria is very important, its people, its government, its land everything that we are proud of. Therefore, we are looking to see this country in more prosperity, economic prosperity. We want to strengthen our strategic partnership, economic and political relationship“, he said.