Monday, October 25, 2021

Russia seeks better trade relations with Nigeria

Mr Shaposhnikov put the trade between Nigeria and his country at $600 million and attributed the low trade volume to Russia’s non-purchase of Nigeria’s crude oil.

• September 28, 2021
Russian President, Vladimir Putin and President Muhammadu Buhari
Russian President, Vladimir Putin and President Muhammadu Buhari

Deputy Head of Mission, Russia Embassy, Valery Shaposhnikov, on Monday said that the trade volume between Russia and Nigerian would increase with the buying of agricultural produce from the country by Russia.

Mr Shaposhnikov said this at a news conference to unveil the Nigeria-Russia Chamber of Commerce and Industry (NRCCI) in Abuja, founded by its Chairman and Zenith Labour Party candidate in the November 6 Anambra governorship election, Obiora Okonkwo.

Mr Shaposhnikov put the trade between Nigeria and his country at $600 million and attributed the low trade volume to Russia’s non-purchase of Nigeria’s crude oil. He explained that more Russian companies were willing to buy Nigerian products provided they meet international standards.

According to Mr Shaposhnikov, the trade volume is not based on oil transactions because Russia does not buy oil from Nigeria.

“When we talk about trade volumes with other countries, practically all these volumes are based on oil transactions – buying and selling oil products and oil. In our case, the situation is more healthy. There is no oil transaction,” said the Russian envoy stated. “We are supplying fertilisers, wheat, machinery to Nigeria and we are buying some agricultural products from Nigeria. Maybe not so much as you would like to see and not so much as we will like to buy, but the products you are selling should be good and meet international standards, and when it is done, the volume will rise.”

Mr Shaposhnikov said that some companies in Russia were interested in buying agricultural produce in Nigeria, adding that “we want companies here to produce more high standard products and also to provide that these products meet international standards.”

Mr Okonkwo said that the commerce platform would enable Nigeria to explore business relations with Russia.

“The principal objectives of Nigeria and Russian chambers of commerce is to promote commerce, industry, trade, and ancillary services,” he noted. “It will also foster, advance, and protect commercial, industrial, trade, and professional enterprises without limitation.”


More from Peoples Gazette

Super Falcons team


AWCON 2022: Super Falcons beat Ghana to reach final round

The Super Falcons fought a tough battle to edge Ghana’s Black Queens and reach the final round of the qualification series for next year’s Africa Women Cup of Nations.


Mourinho sees red as Roma ends Napoli’s winning streak

“I was asking for a situation in our favour, but I didn’t say anything special, nothing that warranted being sent off for,” Mourinho told reporters.


Oyo Jailbreak: Interpol enlisted to recapture fleeing inmates, says Aregbesola

“We are sharing the database with all security agencies in the country, including the Interpol, so those who escaped our recapture efforts can be nabbed.”

Garba Shehu and Lai Mohammed


Garba Shehu tackles Lai Mohammed, says bandits are terrorists

“‘bandits’ who have the resources and technology to shoot down a military fighter jet are not bandits at all…they are essentially no different to Boko Haram.”


FC Robo Queens win Flying Officer Cup, beat Edo Queens 1-0

FC Robo Queens of Lagos on Sunday beat Edo Queens Football Club 1-0 in the final match of the third edition of the Flying Officers Cup in Abuja.

Eyimba FC


CAF Confederations Cup: Enyimba drub Diambars FC 3-0

Enyimba International Football Club of Aba on Sunday cruised to the next round of the 2021/2022 CAF Confederation Cup in style.