Del-York, US Partners Seek Saudi Arabia FDI Inflows To Nigeria

Chief executive officer, Del-York Group, Linus Idahosa and his U.S. partners, Messrs. Huffine Global has paid a business visit to the Kingdom of Saudi Arabia to meet with key government officials, investment fund managers and strategic investors to attract investments into Nigeria and Africa in general.

The visit was aimed at taking advantage of potential strategic partnership opportunities between the Kingdom, the United States and Africa. It follows on the heels of the recent visit of U.S. President Joe Biden to the Kingdom.

Whilst on the visit, Idahosa met with several pivotal stakeholders and investor groups who indicated a very keen interest in exploring partnerships in the U.S. and Africa in key areas such as agriculture, energy (gas & power), defense, transportation, education, mining and tourism.

Idahosa also pitched Del York’s ongoing partnership with the Lagos State Government to develop a multimillion-dollar film city project soon to commence in Epe at the international investor meetings.

The U.S. delegation was led by the president of Huffine Global Solutions, Edward Huffine, accompanied by the CEO of the King Abdullah Global Humanitarian Fund, Sultan Alsadoon- a special rep to the Crown Prince.

A team led by the president of the Financial Coordination Center (FCC) met with the Governor of the Mecca Province of Taif, HRH Prince Saud bin Nahar bin Saud Al Saud, ministers, heads of multiple Saudi investment fund groups, amongst other influential high-level chief executives, who indicated their firm interest in exploring and executing the business opportunities.

While speaking on the meetings, Idahosa stated that, “We are hoping to introduce a number of these high-powered investors with whom we have formalized partnership arrangements on this trip to mutually beneficial opportunities with partners at the subnational level and with important private sector operators in Africa.

“At a time, Nigeria is in dire need of dollar-denominated patient capital, the opportunity for these relationships could not have presented itself at a better time. Expectedly, our partnership with the Lagos state government to develop a major Film City project in the state is top on our agenda.

“Still, there are different important and exciting opportunities across other sectors that we believe will be of immense benefit to the business community back home were concretized throughout this visit.” The delegation will leave Saudi Arabia upon completion of its engagement with other high-level state functionaries during the week.