By Abdulkareem Haruna

ABUJA, Nigeria — A Boeing 737 jet carrying President Tinubu of Nigeria and his entourage landed at the Presidential Wing of the Nnamdi Azikiwe International Airport on Thursday, November 9, 2023, shortly after 8 p.m. local time, following a diplomatic mission to Riyadh, Saudi Arabia.

President Tinubu attended the Saudi-Africa summit in Riyadh, where he assured potential investors of the safety of their investments in Nigeria, citing recent economic reforms and the country’s status as Africa’s largest economy. These reforms include the removal of wasteful petroleum subsidies and the consolidation of the foreign exchange market to enhance the ease of doing business.

Tinubu emphasized the country’s commitment to the rule of law, assuring investors of good returns and the free flow of funds in and out of Nigeria. He stated that the previous obstacles to this flow are no longer a concern.

During a bilateral meeting with Saudi Crown Prince Mohammed bin Salman Al Saud, the Saudi government announced its intentions to invest in the renovation of Nigerian refineries. It also expressed support for Nigeria’s foreign exchange reforms, promising a significant deposit to bolster the country’s forex liquidity.

On Monday, President Tinubu sought a sizable infrastructure finance facility from the Islamic Development Bank for a range of infrastructure projects at the federal and sub-national levels in Nigeria. This request was a key part of his discussion with the Vice-President of Country Programmes at the Islamic Development Bank, Dr. Mansur Muhtar. Tinubu pointed out the investment opportunities available in several sectors and proposed the bank’s involvement as a critical enabler.

Following his visit to Saudi Arabia, Tinubu made a brief stop in Bissau, Guinea-Bissau, early Thursday to join other Heads of State and Government in celebrating the country’s 50th Independence Anniversary and Armed Forces Day. This marked his second visit to the country since taking office nearly six months ago.

Tinubu’s return to Nigeria came just a day after the country’s Organised Labour ended its indefinite strike following negotiations with National Security Adviser, Nuhu Ribadu.