REUTERS/Temilade Adelaja/File Photo Acquire Licensing RightsABUJA, Nov 10 (Reuters) - Nigeria and Saudi Arabia on Friday agreed to a series of investment and cooperation deals, including a pledge by the Saudi government to invest in the revamp of Nigeria's oil refineries and provide financial support to sustain the government's foreign-exchange reforms.
Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and unifying the country's multiple exchange rates as part of measures "aimed at improving the ease of doing business."
Information Minister Mohammed Idris said the Saudi government pledged to make "a substantial deposit of foreign exchange to boost Nigeria's forex liquidity".
"Nigeria and Saudi Arabia have always enjoyed a special relationship at both the bilateral and multilateral levels.
The two leaders agreed to work together over the next six months to "develop a comprehensive road map and blueprint" to deliver on the investments, Idris said.
Persons:
Bola Tinubu, Temilade, Saudi Crown Prince Mohammed bin Salman, Mohammed Idris, Idris, Tinubu, Ajuri Ngelale, Boko, Felix Onuah, Elisha Bala, Emelia Sithole, Matthew Lewis, David Evans
Organizations:
REUTERS, Rights, Saudi Crown, Saudi Aramco, Thomson
Locations:
Abuja, Nigeria, Rights ABUJA, Saudi Arabia, Saudi, Africa, Riyadh, Tinubu, Africa's