Nigeria, Saudi Arabia explore new frontiers for trade, investment as ambassador engages private sector

Yakubu Gambo, the newly appointed Ambassador to the Kingdom of Saudi Arabia, has reaffirmed the importance of strengthening economic, investment, innovation, and cultural ties between Nigeria and Saudi Arabia during a meeting with the leadership of Safira in Riyadh.

The engagement, according to a statement, brought together Gambo with Folajimi Daodu Safira, Founder and Chief Executive Officer, and Saeed Alshahrani, Safira Co-Founder and Chief Operating Officer, as part of ongoing efforts to deepen collaboration between stakeholders across both countries and identify new opportunities for bilateral cooperation.

Also present at the meeting was Muhammed Isa, Minister (Economic Matters), Embassy of the Federal Republic of Nigeria, Riyadh.

The statement said discussions focused on the evolving relationship between Nigeria and Saudi Arabia, opportunities surrounding the Nigeria–Saudi Business Council, investment promotion, private sector engagement, cultural diplomacy, and initiatives aimed at strengthening economic cooperation between Africa’s largest economy and one of the world’s fastest-transforming economies.

The delegation also briefed the Ambassador on a number of initiatives designed to strengthen ties between Africa and the Gulf region.

Safira is an ecosystem-building platform that leverages events, strategic dialogues, and curated connections to strengthen economic, innovation, and investment ties between Africa and the Gulf Cooperation Council (GCC).

Among the initiatives discussed was Safira Bridge, a platform that convenes government leaders, investors, entrepreneurs, and industry stakeholders to accelerate collaboration across strategic sectors.

The most recent edition of Safira Bridge, which focused on financial services and investment, was supported by the Saudi Ministry of Investment (MISA) and the Embassy of the Federal Republic of Nigeria in Riyadh, bringing together leaders from both countries to explore opportunities for partnership, innovation, and cross-border investment.

The meeting comes at a time of increasing momentum in Nigeria–Saudi Arabia relations, driven by Saudi Arabia’s Vision 2030 agenda and growing interest in expanding commercial, technological, and institutional partnerships across Africa.

The statement said participants highlighted the importance of sustained engagement between governments, businesses, investors, and entrepreneurs in unlocking new opportunities for trade, investment, knowledge exchange, and long-term economic growth.

The meeting concluded with a shared commitment to advancing stronger economic and strategic ties between Nigeria and Saudi Arabia and supporting initiatives that promote mutually beneficial cooperation between both nations.