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President Buhari to attend Future Investment Initiative in Saudi Arabia

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President Muhammadu Buhari will leave Abuja for Riyadh, Saudi Arabia, on Monday, 28 October 2019, to attend the third edition of the Future Investment Initiative (FII).

Malam Garba Shehu, the President’s spokesman, said in a statement in Abuja that the event with the theme “What’s Next for Global Business’’ would hold from Tuesday, 29 October to Thursday, 31 October 2019.

According to him, the major issues of the FII are Sustainable Future, Technology for Good and Advanced Society.

He added that the event would be held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia and chaired by Crown Prince Mohammed bin Salman bin Abdulaziz.

The Crown Prince is also the Deputy Premier, Chairman of the Council of Economic and Development Affairs and PIF.

“Given the increased investor confidence in Nigeria’s economy, President Buhari will use the occasion to speak about the economic opportunities that abound in Nigeria, the effectiveness of his administration’s policies to improve the business environment and invite investors to the country.

“It is noteworthy that the total value of capital inflow into Nigeria increased from 12 billion dollars in the first half-year of 2018 to 14 billion dollars for the same period in 2019,” the presidential aide stated.

Nigeria will be seeking investment on oil and gas, Ajaokuta-Kaduna-Kano (AKK) gas Pipeline, which is a 614km natural gas pipeline.

“Nigerian officials will also take advantage of the summit to accelerate discussions on the planned interest of the Saudi Oil Company, Aramco, to revamp Nigeria’s refineries and new investments in the oil and gas sector,” he said.

The President would be accompanied by Governors Babagana Zulum of Borno State, Abubakar Bagudu of Kebbi and Aminu Masari of Katsina State.

The Minister of State, Foreign Affairs, Zubairu Dada, Minister of Industry, Trade and Investment, Niyi Adebayo, Minister of State, Petroleum Resources, Timipre Sylva and Minister of Communications, Ibrahim Pantami will also be on the entourage.



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