Nigeria’s trade relations with Russia lopsided — Envoy

// News | General | Nigeria’s trade relations with Russia lopsided — Envoy
Email to a friend Plain text Print version // Font size: Decrease font Enlarge font

Nigeria’s Ambassador to Russia, Amb. Assam Assam, says the Nigerian mission is worried about the lopsided trade relations with Russia.

Assam, who made the observation in an interview with the News Agency of Nigeria in Eket, noted that economic relations between Nigeria and Russia favoured the Russians.

He said the Nigerian mission had commenced moves to address the trade imbalance and was wooing Russian Chambers of Commerce with investment opportunities in the oil and gas industry within the Niger Delta.

“The trade with Russia is totally lopsided. In the current year, the Russians exported about $350m (about N56bn) worth of goods to Nigeria, and Nigeria exported nothing.

“That is precisely why I am working to ensure that the imbalance is corrected, I am meeting with the chambers of commerce of the Russian Federation and of Moscow.

“I am meeting with Russian banks and investment houses and I am also meeting with major players in the oil industry.

“In the hope that we will be able to attract some of them to come in to do direct foreign investment in Nigeria which, we think in the long run, will redress that lopsidedness.”

Assam explained that the mission was working on developing markets for non-oil exports to boost trade with Russia.

The envoy also commented on the development of abundant gas reserves in Akwa Ibom.

He said the country had an existing Memorandum of Understanding with Gazprom, a Russian gas firm, which would be implemented.

Assam said that the MOU provided a framework for meaningful economic relations that would be mutually beneficial to both countries as well as strengthen bilateral relations between them.

According to the diplomat, the Russian expertise in gas will be deployed to develop the sector in Akwa Ibom and boost export to Russia.

He said that two Russian firms had already been invited to join in the oil and gas exploration activities in Akwa Ibom and would soon commence operations.

Tagged : No tags for this article

Headlines Newsview all

Boko Haram: Abducted Chibok School Girls Estimated To Be 234

The number of secondary school girls still under Boko Haram captivity is more than the figure widely circulated. There are 234 of them missing from the ... Full story

Lola Omotayo-Okoye Replies Haters Who Blame Her For Psquare Break Up

It seems people are beginning to blame Peter Okoye’s wife, Lola Omotayo for the sad Psquare’s separation. Fans are calling her all sorts of names like ... Full story

Paul Okoye Breaks Silence On Psquare Split

The Psquare Family: Peter and Paul Okoye with wives Lola Omotayo, Anita Isamah and children – Andre, Aliona and Cameron. As the on-going controversy in the ... Full story

12 injured as fire razes Oando filling station in Ogun

No fewer than 12 persons were Easter night injured in a fire that engulfed the Oanda filing Station, at Alagbole in Ifo Local Area Government ...

Mavin Artiste Dr. Sid Joins Nollywood

Dr. Sid, has made his Nollywood debut.   In the movie, ‘The Last 3 Digits’, the 33-year-old teams up with actor Nonso Diobi under directives of newly ...

How God saved us from bomb blast through T.B Joshua's 'anointing water'

Three survivors of the Nyanya bomb blast that killed over 70 people in Nigeria’s capital Abuja last week and left hundreds more injured recounted their ...

Musician Iyanya Visits Nyanya Bomb Blast Victims

Music artiste Iyanya has in no single doubt made it known that his foundation which he launched some weeks back, the IyanyaFoundation has started its ... Full story

The Truth About The Fight Between The Psquare Brothers

The supposed fight between Paul and Peter Okoye was actually started by their PAs. Jude's PA had given money to Peter's PA to get his ... Full story

Pictures From Wedding Ceremony Of Governor Alao-Akala's Son & Hadiza Okoya

Daughter of billionare Chief Razaq Okoya, Hadiza, married the son of former Oyo state governor , Olamiju. The wedding took place at the Okoya estate in ...

Pastor Kumuyi Of Deeper Life Ministry Collapses During Service

Information coming out of Deeper Life Conference Centre, venue of the ongoing Deeper Life Ministry Easter Retreat is not a good one at all and ... Full story

National Church Of Bey Is A New Church That Worships Jay-Z's Wife, Beyonce

Responding to widespread criticism and public outcry, the National Church of Bey founder Pauline John Andrews stated, “We are very disappointed in the failure of ... Full story

Comment on: Nigeria’s trade relations with Russia lopsided — Envoy

Rate this article

3.00

Breaking News

Dencia Strikes Pose in New Vacation Photos

Controversial Singer Dencia is not moved by what people say about her, whether good or bad, all she knows is that, she is making her ...

Stephanie and hubby’s marriage turns 2 today

Nollywood actress Stephanie Okereke Linus and her husband got married on the 21st of April, 2012, she got married to her heartthrob Linus Idahosa in ...

Should Ice-Prince Charge His Ex-girlfriend For performing at her wedding?

Music artiste Ice Prince Zamani is on a hot sit right now, he went to twitter to throw an open question to his fans, seeking ...

HOW GOD SAVED US FROM THE ABUJA BOMB BLAST THROUGH T.B. JOSHUA’S 'ANOINTING WATER'

Three survivors of the Nyanya bomb blast that killed over 70 people in Nigeria’s capital Abuja last week and left hundreds more injured recounted their ...

KCee Showers Excited Fan with Special Gift on His Birthday

Last night was certainly a very special performance for KCee at the fourth stop off Star Music Trek 2014, which held in Umuahia, Abia State.The ...

Pictures From Uche Nnanna's Wedding In Port Harcourt

Nollywood actress, Uche Nnanna held her white wedding in Port Harcourt, Rivers State today, Monday, April 21, 2014.The ceremony was attended by some of her ...

Sinzu Denies Being Debit Card Fraudster

Popular Nigerian rapper, Sinzu, formerly known as Sauzekid, has denied being the man in a video allegedly engaging in an ATM fraud in the United ...

My Wife Talks Too Much--2Shotz

Top Nigerian rapper, 2Shotz has disclosed that his wife, Precious talks too much and he would wish God works something out for him if he ...

Iyanya Visits Nyanya Bomb Blast Victims

Music artiste Iyanya has in no single doubt made it known that his foundation which he launched some weeks back, the IyanyaFoundation has started its ...

Freeze calls on all Nigerians to pray against P-Square breakup+his words for Lola

Do you have a story/gist for publication? Please email it to story@nigeriafilms.com God pikin | 4/21/2014 9:45:09 AM Lola way d caouse d wahala na ur husband ...