Sep 30, 2014
Prince Alwaleed Receives Invitation From President to Visit Nigeria

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received HE Hon. Abubakar Shehu Bunu, Nigerian Ambassador to Saudi Arabia, who was accompanied by Mr. Tijjani Hammanjoda, Deputy Head of Mission and Bashir I. Ma’aji, Counsellor, Embassy of #Nigeria. The meeting was also attended by Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman and Mr. Hani Agha, Senior Manager Travel & External Affairs.

The meeting began as the Ambassador thanked the Prince for giving him the opportunity to meet with him and relayed cordial regards from HE Mr. Goodluck Jonathan, President of the 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. During the meeting, the Ambassador handed HRH and invitation from the President to visit his country, in return Prince Alwaleed cordially accepted the invitation.

Moreover, the Ambassador commended the Prince on his efforts and global investments, and his generous philanthropic contributions to those in need through Alwaleed Bin Talal Foundation – Global that is chaired by Prince Alwaleed. In addition, the two discussed the large role of petroleum in the Nigerian economy and the investment 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 March 2014, Prince Alwaleed received HE Arch. Mohammed Namadi Sambo, Vice President of Nigeria and an accompanying delegation. In 2011, HRH 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 Nigeria and was warmly welcomed by the President 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.