Niger : Saudi Arabia To Invest In Agriculture, Infrastructure

By Oduyemi Odumade

Saudi Arabian investors have expressed their interest in investing in agriculture and infrastructure projects in Niger State.

Governor Mohammed Umar Bago confirmed this during a media chat held on the sidelines of the Saudi Arabian-Nigeria Roundtable Meeting in Mecca, led by President Bola Ahmed Tinubu.

The Governor revealed that several Saudi Arabian investors are ready to invest in agriculture and road projects across the state, including the dualization of the Bida-Minna Road, a vital transportation route in the region.

He explained that Niger State has been chosen as the first pilot scheme for collaboration in agriculture due to its proximity to the Federal Capital Territory (FCT) and its abundant water resources for irrigation.

Governor Bago who expressed his excitement about the potential economic growth and development that can result from foreign investments in the state said the state is home to four functional hydropower dams, streams, River Niger, and the River Benue.

“Niger State is renowned as the largest producer of sheanut and paddy rice in Nigeria, making it an attractive investment destination for the agriculture sector.”, he said.

“This is a great opportunity and avenue to showcase ourselves, which we have done. And we have garnered interested collaboration,” he noted.

Earlier, in his address, President Tinubu also advanced negotiations for a multi-billion dollar infrastructure finance facility from the Islamic Development Bank, IDB, during the Saudi-Arab-African Economic Summit.

During the Saudi-Arab-African Economic Summit, the President of the Islamic Development Bank announced the provision of $50 billion of new investments for the African continent from the Arab Coordination Group (ACG).

In the same vein, the Islamic Development Bank’s Vice-President also reiterated the Bank’s resolve to support Nigeria’s economic transformation.

As the largest market and largest economy in Africa, Nigeria is expected to secure a significant share of the multi-billion dollar investment for the Continent.

Edited By Grace Namiji