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Nigeria-Russia trade volume hits $250m — Envoy

By on October 31, 2013

The volume of trade between Nigeria and Russia currently stands at $250m, the Russian Ambassador to Nigeria, Mr. Nikolay Udovichenko, has said.

He said this on Monday in Abuja at the Nigeria-Russia Business Forum tagged, ‘Nigeria-Russia cooperation: New opportunities.’

“In terms of statistics, it is not so big because it is a quarter of a billion dollars, but with our efforts, we can lift the performance significantly and I am sure we will be effective in this way,” Udovichenko said.

According to him, the idea of the business forum came from a shared commitment to establish comprehensive and mutual beneficial ties between the two countries.

He said Russia was interested in developing cooperation with Nigeria in the fields of investment, energy, trade and agriculture, among others.

Udovichenko said the embassy’s initiative to invite Russian investors and businesses to Nigeria would bring positive result through the bilateral trade and cooperation in economic, humanitarian, political and foreign technical cooperation.

“We see new opportunities for Russian companies. Suffice it to say that Nigeria has all chances to become Africa’s biggest economy in the nearest future. That is why we and the embassy of Nigeria in Moscow almost simultaneously decided to amplify efficacious bilateral cooperation,” he said.

The Minister of Foreign Affairs, Prof. Viola Onwuliri, said the forum would explore new areas of opportunities, collaborations and ways to improve on the existing areas in economic engagement between the two countries.

Represented by the Acting Director, Joint Commission, Trade and Investment, Ministry of Foreign Affairs, Mr. Momoh Omeiza, the minister said Nigeria, with 170 million people, was blessed with numerous resources in commercial quantities.

“Therefore, Nigeria is looking forward to partnering with the Russian business community  in the areas of agriculture, power, mining, health, manufacturing, education, tourism, energy, housing, ICT etc,” she said.

 

 

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