News, Wellness

Saudi Billionaire Eyes Nigeria’s Cement and Hotel Sectors

“Saudi Arabia’s Prince Alwaleed bin Talal al Saud, (this past) weekend said he was looking to making substantial investments in Nigeria, and that “funds are not a constraint.” The Gulf kingdom’s richest man said he wanted to initiate a strong relationship with Nigeria.

Alwaleed, who was named as the world’s richest Arab by Forbes Magazine and 5th in the world with assets of $20.4 billion, said he was attracted to Nigeria because the market was large, just as he indicated that he had strong interests in hotels, banking, oil, charity projects and cement production.

Before a brief meeting with key industry players that Included the President, Dangote Group, Alhaji Aliko Dangote, FCT Minister,Senator Bala Mohammed, among others at the Transcorp Hilton Hotel, Abuja, Alwaleed was at the State House where he expressed his desire to activate a strong relationship with Nigeria, adding that his company, Kingdom Zephyr Africa Management Company has interests in most African countries.

Highlighting the benefits he stood to enjoy should he cast his net into the country’s large beckoning business frontiers, President Goodluck Jonathan told his guest that with a population of 167 million, Nigeria was essentially a green field in the areas of hotels, real estate, infrastructure,telecommunications, energy and agriculture.

He added that a robust economy, extensive oil and gas reserves and largely unexploited petroleum downstream sector were other baits that could not be ignored by any investor. . .”

Full Story on Leadership Nigeria.

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Founded in 2007, Ladybrille® Magazine is a California based pioneer digital publication demystifying the image of Africans in the west through contemporary African fashion and celebrating the brilliant woman in business and leadership, with an emphasis on the African woman in the diaspora. Our coverage includes stories on capital, access to markets, expertise, hiring and retention, sales, marketing, and promotions.

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