The Government of Saudi Arabia has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms.
The Minister of Information and National Orientation, Mohammed Idris in a press statement available to ITREALMS quoted the Saudi Crown Prince, HRH Mohammed bin Salman as pledging these at a bilateral meeting with President Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.
The Saudi Telecom Company (STC) has invested for a 9.9 per cent interest in Telefonica with the sum of €2.1 billion, about N1,700,176,044,000.00 trillion, thereby increasing investments outside of its home market, reports ITREALMS.
A press statement available to ITREALMS, STC is backing Telefonica’s current leadership and strategy claimed it had no intention of acquiring control or a majority stake in the Spain-based operator group.