President Muhammadu Buhari has accepted an invitation from the Saudi Crown Prince, Mohammed bin Salman, for the establishment of Nigeria- Saudi Council.
The decision was the high point of a bilateral meeting between President Buhari and the Crown Prince, which took place on the margins of the Future Investment Initiative (FII) conference.
Garba Shehu, Senior Special Assistant to the President on Media and Publicity said, in a statement issued on Thursday, that the establishment of the joint council was aimed at promoting investments and enhancing relations between both countries.
The council will be made up of government officials and business leaders from both countries and the areas of focus are: economic growth and development, investments in oil and non-oil sectors, and security cooperation.
President Buhari and the Crown Prince agreed that the first assignment for the council was to establish a legal and operational framework that will facilitate investments beneficial to both countries.
The council will be established in the next two months while meetings will be held twice every year, the statement said.
It was also agreed that leaders of both countries, at the highest level, will meet at least once every year to review the progress of the joint council and ensure closer collaboration on issues of mutual interest.
The agreement is to ensure that relations between both countries remain active.
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