Ajuri Ngelale reports that President Bola Tinubu, who will be attending two significant conferences in the coming days, on Sunday announced new initiatives to engage Arab nations in order to recruit businesses and extra Foreign Direct Investment (FDI).

State House Correspondents were briefed by Ngelale, the President’s Special Advisor on Media and Publicity, about the President’s impending visit to Riyadh, the Kingdom of Saudi Arabia, to attend the Saudi-Africa and Arab African summits.

November 10, 2023 and November 11, 2023 are the scheduled dates for both events.

Per the statement from the presidential spokesman, Tinubu, during his visit to Saudi Arabia, will talk about a number of issues that are of common concern to both countries regarding their economic ties, counterterrorism, the environment, and agriculture.

Ngelale stated that increasing trade and investment between the Kingdom of Saudi Arabia and the continent of Africa will be among the other topics of discussion.

President Tinubu is obviously very interested in making sure that, in the context of the continent, the Federal Republic of Nigeria is in a position to take full advantage of the opportunities that will arise from the implementation of the African Continental Free Trade Agreement, whereby we will have a single trade market of more than one billion Africans.

“Our market here on the continent would have surpassed $29 trillion by the year 2050, according to the United Nations Economic Commission for Africa.”

Ngelale continued, saying that Tinubu would be pushing for a stronger partnership between the two regions in his capacity as the Chairman of the ECOWAS Authority of Heads of Government.