Nigeria and Saudi Arabia have reaffirmed their commitment to strengthening bilateral economic relations through trust, transparency and economic diversification, as stakeholders from both countries converged in Abuja for the second Nigeria-Saudi Diaspora Investment and Tourism Exhibition.
The summit, themed “The Misconceptions, Challenges and Opportunities of Investing in Saudi Arabia and Nigeria Today,” brought together government officials, diplomats, business leaders and investors to explore new areas of collaboration beyond the traditional Hajj and pilgrimage relationship.
Speaking at the event, Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, called for deeper economic cooperation anchored on trust, transparency and mutual understanding.
She described the exhibition as an important platform for strengthening bilateral relations through the exchange of ideas, skills and innovation, while reaffirming that Nigeria remains open for business with abundant investment opportunities in hospitality, agriculture, tourism, logistics, trade and healthcare.
Dabiri-Erewa also commended the organisers, Al-Yaro International Ltd., for creating a platform that promotes networking and mutually beneficial investment opportunities between Nigeria and Saudi Arabia.
Nigeria’s Ambassador to Saudi Arabia, Dr. Yakubu N. Gambo, cautioned that misconceptions continue to impede stronger economic ties between both countries. He stressed the need for sound policy frameworks, transparency and effective collaboration to unlock the enormous potential for bilateral investments.
According to the ambassador, Nigeria’s youthful workforce in technology, agriculture, healthcare and the creative industry aligns with Saudi Arabia’s Vision 2030 priorities in mining, agriculture, tourism, logistics and information technology, creating opportunities for strategic partnerships.
Also speaking, the Head of the Nigeria-Saudi Arabia Chamber of Commerce, Engr. Ibrahim Usman, urged both nations to broaden their relationship beyond religious activities by expanding commercial and investment partnerships.
He said efforts were ongoing to eliminate commercial fraud and simplify cross-border transactions, while advocating greater attention to the halal economy, especially the export of organic and internationally certified agricultural products.
Former Vice President of the Islamic Development Bank, Dr. Mansur Muhtar, encouraged investors to diversify beyond crude oil into renewable energy, real estate, tourism and sustainable agriculture. He noted that improving the ease of doing business would strengthen economic cooperation and deliver long-term benefits for both countries.
Summit organiser and Chief Executive Officer of Al-Yaro International Ltd., Musa Yaro, expressed optimism that the exhibition would generate strategic business partnerships and position Nigeria as a preferred investment destination.
He disclosed that the second edition of the summit attracted over 100 exhibitors and more than 500 delegates, while appreciating President Bola Ahmed Tinubu and NiDCOM for supporting the initiative.
The event also featured the presentation of awards to several organisations in recognition of their contributions to business, investment and economic development. Recipients included ARISE, Faiz Takaful, Vego Energy Solutions, TMDK Group, Zee Coffee, NiDCOM and other distinguished organisations.
