NewStats: 3,264,441 , 8,183,728 topics. Date: Wednesday, 11 June 2025 at 06:23 AM 6o3nz

The Minister of Finance, Wale Edun, on Sunday, said more local jobs are expected in the coming year as a result of Saudi Arabia’s drive to ramp up investment in key sectors of the economy.

Edun said this follows Saudi Arabia’s SALIC International Investment Company’s acquisition of a 35.43 per cent stake in Olam Agri Holdings for $1.24bn

The Coordinating Minister of the Economy affirmed this after meeting President Bola Tinubu at his Ikoyi home in Lagos.

The deal, which closed on December 23, 2024, values Olam Agri Holdings at $3.5bn.

Olam Group will retain a majority stake of 64.57 per cent in the agricultural unit in a deal first announced in March 2022.

Edun, accompanied by his counterpart in the Ministry of Budget and Economic Planning, Atiku Bagudu, had led a delegation to Saudi Arabia to follow up on various investment pledges made to Nigeria by Saudi businesses in the past few visits.

He said this visit resulted in a $1.2bn investment by the Saudi Agricultural Livestock Investment Company in Olam.

This investment, he argued, is expected to increase FOREX inflow, and jobs and boost the economy.

Edun explained, “I’d say what we have brought back is investment. What we have brought back is foreign exchange. We have brought jobs for Nigerians.

“If you look at the demographics of Saudi Arabia, to the extent that they are investing abroad, they are not going to be exporting their people. They’re not like some of the other big, populous countries of Asia.

“So clearly, where they invest is in jobs for Nigerians. So that’s the simplest way I would put it. Of course, the Olam transaction was a long time in the works. You all know that the Saudi Agricultural Livestock Investment Company has, just around December 23, increased its investment in Olam by a $1.2bn additional investment.

“So it is that type of transaction that Mr president has taken the steps of stabilising the Nigerian macroeconomic environment to encourage such and to attract such and of course, that is an example of the success of the strategy followed by Mr President.”

He said the delegation was in the Middle East to “follow up on the economic diplomacy, the incisive, robust and exhaustive economic diplomacy that Mr President has carried out around the world.”

For his part, the Budget Minister referred to the cordial relationship between the Saudi Crown Prince, Muhammadu Bin Salman and Tinubu as a key factor in the multilateral progress.

He said, “I don’t know how you evaluate achievements because once your President is respected in a country, that is an achievement. Some of you were there when Mr. President first visited Saudi Arabia. At the Business Council meeting, the Minister of Investment of Saudi Arabia compared our President with the Crown Prince of Saudi Arabia.

“I think that is profound because they don’t do those things just for the optics; they are very serious about those equivalents.

“In this visit where we met the Minister of Finance, Minister of Economy and Planning, Minister of Energy, as well as other deputy and vice ministers, you can see clearly that the Saudis are seeing in President Tinubu is somebody who is changing his society as they did theirs. So they appreciate our President, who is facing a greater challenge, yet he took on those reforms. For me, that is the number one achievement for our country.”

Regarding the 2025 budget, Bagudu said Nigerians should expect a better economy with lower inflation, more employment opportunities, and more business .

“We have turned the bend; we have made the tough choices; we have seen the worst we could see, which is not unexpected.

“That is why social protection was improved. So what we are expecting to see in 2025 is a better economy, lower inflation, more employment opportunities, more for businesses, more infrastructure development, more funding of security and better security, and all those priority areas, including human capital development, education and health.

“We’re sure to see more in that direction, and the quality of life will get better,” he explained.

https://punchng.com/saudis-1-2bn-investment-to-create-more-jobs-for-nigerians-fg/?amp

The new year is almost here, just a few steps in and it's looking to start off on a very promising note. It's bold to say the President 's trip all year round was pretty much fruitful. This Saudi /Olam deal went like an incognito without no noise at all.

The Livestock and Agric sector is brimming with huge investments. Brasilian investors, the Saudis & Chi Farms, are locked in already, as well as a Japanese agency who has sealed a deal in rice production.

These are a few among other potential investors. Yeah, there could have been a trust deficit in the past but I think the tide is gradually changing, a different man on the wheel. The couple of positive news falling on each other these past few weeks is a pointer to the fact that every Nigerian must shred off any negative mindset and embrace these new opportunities.
Wishing you all a happy and prosperous new year in advance and God bless the federal republic of Nigeria.

Good

The Brazil $2.5bn deal already secured.

More FDI for Nigeria.

Instead of borrowing unnecessarily, attract investors

Y'all deceiving yourselves

Good.

God forbid Saudi companies.

helinues:
Good

The Brazil $2.5bn deal already secured.

More FDI for Nigeria.

Instead of borrowing unnecessarily, attract investors

I recalled the President make reference to his ministers visiting Saudi Arabia for investment in Agriculture during his media chat. When I read this news, a light bulb came on over my head.

femisplash:

I recalled the President make reference to his ministers visiting Saudi Arabia for investment in Agriculture during his media chat. When I read this news, a light bulb came on over my head.

I talked about it immediately after the chart. Now it's becoming reality.

And there are still more pending deals like that

helinues:


I talked about it immediately after the chart. Now it's becoming reality.

And there are still more pending deals like that

Absolutely.

Oil money. God bless Nigeria


-Kiss the truth!

femisplash:

https://punchng.com/saudis-1-2bn-investment-to-create-more-jobs-for-nigerians-fg/?amp

ok oo. but YOUTHS are lazy already, jus wana buy BENZ& lambo that's all

Nice one

Audio

To.....
Will......
Shall.....
Set to.....
Ready to.....
Committed to.....
lamba
audio

Good way to go.

God bless Nigeria 🇳🇬 🙏 🙌

Saudi keh?

Urheaster:
Audio

Every good news about Nigeria 🇳🇬, make some people sad, weep and bitter.

Na dere una dey o

helinues:


I talked about it immediately after the chart. Now it's becoming reality.

And there are still more pending deals like that

True that.

Urheaster:
Audio

But you will be happy to read about companies moving out from Nigeria 🇳🇬.
What a bitter soul.

Where's Dubai's meeting proceed? Ti Qatar nko? Here they come again with propaganda. By the time it's busted as usual, the praise singers would rush into their cocoon as usual, they'd disappear as if they never existed on NL

Na today. What was the outcome of all buhari foreign trips and investment drive? What of tinubu 17 billion dollars investment from India, that one no body hears about it.

[qkeep praising and dreaming. uote author=helinues post=133509521]Good

The Brazil $2.5bn deal already secured.

More FDI for Nigeria.

Instead of borrowing unnecessarily, attract investors [/quote]

post=133510158:
Good way to go.

God bless Nigeria 🇳🇬 🙏 🙌

This looks interesting 🤔👇

T

Nonsense

Maybe instituting Sharia court in South West is the binding factor for Saudi guys to release the money

We keep hearing of creating jobs in all those audio deals yet unemployment keep on soaring

If not for online business
Coin trading
Yahoo yahoo
Kidnappers
Armed robbery
Hook up
Hooliganism
Churches
Native doctors keeping many Nigerian youths busy, revolution for don happen they tey

Audio

And some people will still be crying for this....some are already saying it is Audio

nedu666:
Na today. What was the outcome of all buhari foreign trips and investment drive? What of tinubu 17 billion dollars investment from India, that one no body hears about it.

But Rome was never built over night. At least its a step forward.

Good news.

More investments coming into the country.

The year 2025 would be a year to reckon with

Let them come first, same way they made empty promises in 2024. Light has been so bad in December.

Them go use the money well abi them go move am as usual