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Russian coy, businesses to invest in Nigeria, says chamber President

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4 years ago

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Nigerian and Russian Flags
Nigerian and Russian Flags
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The President of the Russian Chamber of Commerce, Mr Sergey Katyrin, has said that Russian companies and businesses were ready to partner and invest in Nigeria.

This is contained in a statement signed by the Nigerian Embassy in Moscow, Russia, and made available to the News Agency of Nigeria (NAN) on Wednesday, in Abuja.

Katyrin said this in Moscow while receiving the Nigerian Ambassador to Russia  Prof. Abdullahi Shehu, who visited the Russian Chamber of Commerce and Industry.

Katyrin stated that the Chamber regularly hosted country and company presentations, which the Nigerian side can take advantage of to explore areas of cooperation and partnership.

He added that the Chamber organises exhibitions for information exchanges under the auspices of Expocentre Fairgrounds.

Katyrin assured the Nigerian envoy of his full cooperation and the readiness of Russian companies and businesses to invest in Nigeria, expressing the readiness of the Russian Business Council in facilitating such cooperation along with its Nigerian counterpart.

Responding, Shehu noted that Nigeria had maintained stable relations with the Russian Federation dating back to the Soviet era.

According to him, the two countries could achieve more in their economic cooperation if Russian businesses showed more interest in Nigeria, as the African commercial nerve centre, and the economic hub of the West African sub-region.

“For any Russian companies, Nigeria is the gateway to Africa”,  A good example is the decision of the Russian company called URALCHEM to establish in Nigeria.

“URALCHEM is one of the largest companies in the mineral fertilisers market and the second largest producer of nitrogen fertilisers in Russia, to open a representative office and a fertiliser plant in Nigeria before the end of 2021,” it stated.

The Ambassador also called on other Russian companies to follow the example of URALCHEM to not only export products to Nigeria, but also produce such goods in Nigeria.

He added that the Embassy planned to organise a trade mission to Nigeria soon, while offering the Russian Chamber of Commerce and Industry to assist in organising trips for interested businesses.

Shehu stressed that the embassy was ready to organise regular trips of representatives of Russian companies to Nigeria to avail them the avenues to better understand the risks and opportunities in the country.

He said that part of his mandate was to facilitate trade and government was looking forward to collaborating with Russian investors interested in the Nigerian economy,

Also, speaking at the meeting was the Chairman of the Board of Directors of URALCHEM, Mr Dmitry Konyaev, who confirmed that his company would soon open its representative office in Nigeria and would also establish a plant.

He further stressed the great potential of the Nigerian market for the supply of mineral fertilisers, and the importance of exporting Russian knowledge and technology to Nigeria.

Konyaev further indicated that URALCHEM was collaborating with RUDEN University, under a scholarship scheme, to attract Nigerians to study agricultural specialties and return home to transfer the technology to Nigeria.

NAN reports that Mr Konyaev was elected as the new Chairman of the Russia-Nigeria Business Council in May 2021.

(NAN)

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International

Finnish Court Jails Simon Ekpa Six Years for Terrorism

Published

3 months ago

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September 1, 2025

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Simon Ekpa
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A Finnish court on Monday sentenced Nigerian-born Finnish politician Simon Ekpa to six years in prison for terrorism-related offences.

The Päijät-Häme District Court found the 40-year-old former Lahti municipal councillor guilty of participating in a terrorist organisation, incitement to commit crimes for terrorist purposes, aggravated tax fraud, and violations of the Lawyers Act.

Prosecutors said that between 2021 and 2024, Ekpa promoted the independence of the so-called Biafra region in Nigeria through illegal means, using social media to influence followers and support armed groups the court classified as terrorist organisations.

The court ruled that Ekpa provided weapons and explosives through his contacts and urged his supporters on X, formerly Twitter, to commit crimes in Nigeria. He denied all charges.

Ekpa was arrested in December 2024 and tried over 12 sessions earlier this year. A three-judge panel delivered the unanimous verdict, ordering him to remain in custody.

 

 

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International

In Brazil, Tinubu Calls for Innovation-Driven Transformation in Nigeria

Published

3 months ago

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August 27, 2025

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Tinubu has reaffirmed his administration’s commitment to positioning Nigeria as a leader in Africa’s development, with a focus on technology, food security, and innovation.

Speaking to Nigerians in Brazil on Wednesday, Tinubu described his visit as a strategic step to deepen bilateral ties and learn from the South American country’s rapid development.

“Once upon a time, Nigeria and Brazil stood on the same level. Look at Brazil today — its technology, its food systems. We must ask ourselves: what do they have that we don’t? We have the brains, the energy, and the youth. We have everything we need. Now, we must act,” he said.

The President stressed that his government is laying the foundation for partnerships in manufacturing, technology, and cultural exchange, with the goal of unlocking Nigeria’s potential.

Acknowledging the difficulties citizens face due to ongoing economic reforms, Tinubu insisted that the measures are necessary for long-term prosperity.

“Yes, the reforms are tough — like bitter medicine. But once the fever is gone, you know the cure was worth it,” he said.

He commended the Nigerian diaspora community in Brazil, urging them to see themselves as critical stakeholders in building a new Nigeria.

“You are the pride of our nation. Your diversity, your commitment — it reflects the Nigeria we are working to build. I salute you all,” Tinubu stated.

The President further called for unity and resilience among Nigerians, adding that the dream of a prosperous nation must be pursued with urgency.

“If Wole Soyinka, at over 90, can still dream and act, then we have no excuse. The dream must be realised. The time is now,” he said.

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International

Tinubu Arrives in Brazil for Two-Day State Visit After U.S. Stopover

Published

3 months ago

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August 25, 2025

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President Bola Ahmed Tinubu stepping out from Airplane
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President Bola Tinubu has arrived in Brasília, Brazil, for a two-day state visit focused on deepening bilateral ties and securing new investments.

Tinubu, who flew in from Los Angeles after attending the Tokyo International Conference on African Development (TICAD9) in Japan, was received at the Brasília Air Base by senior Brazilian government officials, including Ambassador Carlos Sérgio Sobral Duarte, Secretary for Africa and the Middle East, and Carlos José Areias Moreno Garcete, Brazil’s Ambassador to Nigeria.

Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, also joined the reception. Other cabinet ministers, heads of key agencies, and private sector representatives later welcomed the president at his hotel.

The official welcoming ceremony, with full military honours, is scheduled for Monday at the Planalto Palace.

According to presidential aides, the visit will focus on activating multi-billion-dollar agricultural investments, advancing the $1.1 billion Green Imperative mechanisation project, and attracting fresh foreign direct investment in Nigeria’s agriculture and energy sectors.

Tinubu is also expected to participate in a Nigeria–Brazil business forum, bilateral meetings, and the signing of agreements and memoranda of understanding in technology, aviation, renewable energy, and climate resilience.

The presidency has not disclosed when the president is expected to return to Abuja.

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