Cardoso Promises to Strengthen Nigeria-Saudi Economic Relationship

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has restated the bank’s commitment to boosting economic cooperation between Nigeria and the Kingdom of Saudi Arabia.

According to a press statement from the CBN on Sunday, Cardoso made this known during a courtesy visit to the CBN headquarters by the Saudi Arabian Ambassador to Nigeria, Faisal bin Ibrahim Alghamdi, and his delegation.

The statement noted that Cardoso emphasised the apex bank’s dedication to fostering partnerships across key sectors that drive economic growth.

“The Central Bank of Nigeria remains committed to advancing partnerships that will deepen economic ties between Nigeria and Saudi Arabia. We will continue to explore opportunities that yield tangible benefits for both countries,” he said in the statement.

The CBN governor also commended the Saudi government for its hospitality during the recently concluded AIUla event, hosted by the Saudi Ministry of Finance in collaboration with the International Monetary Fund Regional Office in Riyadh.

In his remarks, Alghamdi expressed appreciation for the warm reception and reaffirmed Saudi Arabia’s interest in expanding bilateral cooperation with Nigeria. He said the Kingdom was keen to collaborate with Nigeria in strategic sectors, including renewable energy, agriculture, and water connectivity.

“We are eager to strengthen our relationship with Nigeria and explore mutually beneficial opportunities that will contribute to the prosperity of both nations,” he said in the statement.

The statement noted that the visit signals another step in Nigeria-Saudi relations as both nations seek to leverage their strengths for long-term economic growth and stability.