President Bola Tinubu met top officials of the Islamic Development Bank (IsDB) to negotiate a "multi-billion dollar infrastructure finance facility" to help build ports and power plants, Ajuri Ngelale, his spokesperson said on Tuesday.
Tinubu held talks with Mansur Muhtar, vice president, IsDB late on Monday in Mecca, Saudi Arabia, Ngelale said in a statement.
He didn't provide further details of the finance package sought by the Nigerian government.
But the Jeddah, Saudi Arabia-based IsDB is a multilateral development bank that provides financing for infrastructure and other development projects in Muslim-majority countries.
"We have serious deficits in port infrastructure, power infrastructure, and agro-allied facilities," Tinubu said in the statement.
"These deficits present unrivalled opportunity for savvy investors in a market that is by far the largest on the continent," he said.
On Friday, Nigeria agreed to a series of investments and cooperation deals with Saudi Arabia, including a pledge by the Saudi government to make a "substantial deposit" of foreign exchange to help boost Nigeria's forex liquidity.
