The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reaffirmed the apex bank’s commitment to strengthening Nigeria’s economic ties with the Kingdom of Saudi Arabia, emphasizing collaboration in key sectors that drive sustainable growth.
During a high-level courtesy visit to the CBN headquarters by the Saudi Ambassador to Nigeria, H.E. Faisal bin Ibrahim Alghamdi, and his delegation, Mr. Cardoso highlighted Nigeria’s keen interest in fostering strategic partnerships that will unlock new economic opportunities for both nations.
“The Central Bank of Nigeria remains steadfast in its pursuit of economic alliances that create tangible value. Our engagement with the Kingdom of Saudi Arabia presents a significant opportunity to deepen cooperation across critical sectors and enhance economic prosperity,” Mr. Cardoso stated.
He underscored the CBN’s readiness to facilitate initiatives that would strengthen bilateral trade, investment, and knowledge exchange, adding that stronger economic cooperation would yield long-term benefits for both economies.
Reflecting on past engagements, Mr. Cardoso commended the Saudi government for its hospitality during the recently concluded AIUla event, which was hosted by the Saudi Ministry of Finance in collaboration with the International Monetary Fund (IMF) Regional Office in Riyadh. He noted that such platforms offer invaluable opportunities for economic discourse and policy alignment between nations.
In his response, Ambassador Alghamdi expressed appreciation for the warm reception at the CBN and reaffirmed Saudi Arabia’s commitment to expanding bilateral cooperation. He emphasized the Kingdom’s willingness to partner with Nigeria in high-impact sectors, including renewable energy, agriculture, and water resource management.
“We are eager to explore new avenues of collaboration that will strengthen our economic ties and drive shared prosperity for both nations,” Ambassador Alghamdi remarked.
This engagement signals another milestone in Nigeria-Saudi relations, reflecting a shared vision for economic resilience and strategic partnerships that will drive mutual growth and stability.
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