HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received HE Arch. Mohammed Namadi Sambo, Vice President of the Federal Republic of #Nigeria and an accompanying delegation on Sunday 30th March 2014. The Nigerian delegation included Dr. Muazu Babangida, Executive Governor of Niger State, Kabiru T. Turaki, Hon. Minister of Special Duties, Dr. Nurudeen Muhammad, Hon Minister of State II, Foreign Affairs, HE Hon. Abubakar Shehu Bunu, Nigerian Ambassador to Saudi Arabia, Amb. Hassan Tukur, Principal Secretary to the President, Abba Dabo, Special Advisor to the President, Amb. Ahmad Umar, Hon. Consul General, Consulate General of Nigeria, Jeddah, Bashir I. Ma’aji, Counsellor, Embassy of Nigeria, Riyadh. The meeting was also attended by Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the chairman.
The meeting began as the Vice President thanked the Prince for giving him the opportunity to meet with him and relayed cordial regards from the President of the Federal Republic of Nigeria. The two also discussed investment issues related to their respective countries and the bi-lateral economic relations between Saudi Arabia and Nigeria. Moreover, the Vice President commended the Prince on his efforts and global investments and his generous philanthropic contributions to those in need through Alwaleed Bin Talal Foundation – Global (Registered in Lebanon) that is chaired by Prince Alwaleed. In addition, the two discussed the large role of Petroleum in the Nigerian economy and the investments opportunities in that sector, as Nigeria is one of the major countries that export Oil, and it has been a member of Organization of the Petroleum Exporting Countries (OPEC) since 1971.
In 2011, Prince Alwaleed announced a $50 million investment into First Hydrocarbon Nigeria Limited FHN in Nigeria the transaction was through the second Kingdom Zephyr fund, PAIP II. FHN was established in 2009 to capitalize on the exceptional opportunities for indigenous Nigerian involvement in the upstream sector of the oil and gas industry.
In the same year, Prince Alwaleed visited the Federal Republic of Nigeria and was warmly welcomed by HE Mr. Goodluck Jonathan, President of the Republic of Nigeria at the Presidential Palace. Moreover, the President and His Highness discussed a number of social, philanthropic and economic issues and Prince Alwaleed referred to KHC’s investments in Nigeria via the banking sector via Citigroup.
Also in 2011, Alwaleed Bin Talal Foundation supported Nigeria through a donation of $200,000 to "Deworm the World" program in a National School.