First Class Refreshments Limited has signed a memorandum of understanding with Sulk United Company of Saudi Arabia in a strategic move aimed at expanding Nigeria’s role in international trade and strengthening bilateral economic ties.
The agreement, signed in Riyadh, grants First Class Refreshments franchise rights to operate Silk United’s business model in Nigeria, with Lagos designated as the operational hub for marketing, distribution and trade facilitation.
Under the franchise arrangement, the Nigerian company will promote and distribute high-quality, non-oil Saudi products in the local market, while coordinating logistics, customs processes and market access. The partnership is expected to strengthen Nigeria’s import-export value chain and improve access to internationally certified products for Nigerian consumers and businesses.
The deal also positions First Class Refreshments Limited to expand its international market presence, particularly in the export of traditional Nigerian snacks to global markets. The company’s growth trajectory aligns with President Bola Tinubu’s vision of building a $1 trillion economy by 2030 through private-sector-driven trade and investment.
The initiative complements Saudi Arabia’s Vision 2030 Economic Diversification Agenda and supports Nigeria’s push to deepen foreign investment and cross-border commerce. Both parties described the partnership as a sustainable commercial bridge between Nigeria and Saudi Arabia, with Nigeria serving as a gateway to broader African markets.
With the Lagos office expected to become operational in the coming month, First Class Refreshments Limited is projected to play a key role in expanding cross-border trade and strengthening economic cooperation between both countries.
