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.
Headlines Newsview all
As fresh facts begin to emerge about the Ikorodu banks robbery operation where N80 million was reportedly carted away a fortnight ago, one of the ... Full story
Rate this article
- Billboard In India Mistakes Morgan Freeman For Nelson Mandela
- 7 And 10-Year-Old Michigan Boys Honored For Turning In A $100 Bill They Found In The Park
- Shaunie O’Neal Refutes Shaq’s Claim That He Didn’t Want Kids In Reality Show
Odegbami vows to lead Nigerians to resist foreign coach 1980 Africa Cup of Nations winner, Segun Odegbami has kicked against the hiring of a foreign ... Full story
THE Nigeria Weightlifting Federation (NWF) has started preparations that will see it poach gold medals at the forthcoming All Africa Games in Congo Brazzaville in ... Full story
For a while now, the duo of Biodun Okeowo and her actress friend, Wuraola have been at loggerheads over lesbi@nism accusations. The whole drama started when ...
Sacked Super Eagles coach Stephen Keshi has told Nigerians to leave him alone after being relieved of his duties by the Nigeria Football Federation (NFF) ...
Beyond the new logo Wema Bank has launched, beyond the new brand Wema Bank would want you to buy into, there is a rotten system. ...
The Fenerbahce striker, Emmanuel Emenike is upset with his coach especially for ‘leaking’ his personal information to the media. According to the striker, he was ...
Responding to viral reports that he had converted to Islam, Nigerian international football player, Emmanuel Emenike, shared the above image on social media and captioned: “I ... Full story
The fuel crisis situation in the country got worse through the weekend as the scarcity continued unabated in Lagos Abuja, Nasarawa and environs. This is happening ...
Aww it’s a season of welcoming babies in the entertainment industry. Just after Karen Igho put to bed yesterday, ace photographer Yomi Black and wife, ...