Saudi Arabia’s Minister of Energy, Abdulaziz bin Salman, announced that the kingdom has signed preliminary agreements with African nations, including Nigeria, for energy-related collaboration.
Salman spoke on Thursday during the Saudi-Arab-African economic conference in Riyadh.
At the meeting, Salman also met with Heineken Lokpopiri, minister of state for petroleum resources.
Mohammed Al-Jadaan, Saudi finance minister, who spoke on partnerships with African countries, said the Saudi Fund for Development would sign agreements worth 2 billion riyals ($533 million) with countries in the region.
“We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added.
Khalid Al-Falih, Saudi investment minister, said the kingdom’s more than $700 billion wealth fund—the public investment fund—would make some “game-changing” investments in Africa.
The announcement of the deal came hours after President Bola Tinubu arrived in Riyadh, the Saudi capital, to attend the Saudi-Africa summit.
The presidential spokesperson, Ajuri Ngelale, stated that the president arrived in the Middle Eastern country on Thursday as part of efforts to attract foreign direct investment and mobilise capital for the construction of essential infrastructure.
