Wednesday, October 20, 2021

Nigeria, Russia Deepen Bilateral Relations On Mining

The Minister of State Mines and Steel Development, Dr. Uchechukwu Ogah.
The Minister of State Mines and Steel Development, Dr. Uchechukwu Ogah.

Nigeria and Russia have deepened their bilateral relations, as part of continued efforts to develop the mining and metal sector for the optimisation of revenue generation for the growth of Nigeria’s economy.

The Minister of State Mines and Steel Development, Dr. Uchechukwu Ogah, who disclosed this at the inauguration of Nigeria-Russia Chamber of Commerce and Industry (NRCCI) yesterday in Abuja, said the establishment of the NRCCI will play a central role in enhancing business relationship of both countries, as well as help in the development of the mining sector. 

“The NRCCI will become the fulcrum for the galvanisation of the business relationship between Nigeria and Russia, especially in the minerals and metals’ sector,” he said.

While reiterating the President Muhammadu Buhari-led administration’s commitment towards creating an enabling environment for genuine investors through incentives (granting tax holiday for an initial 3 years, exemption from customs and import duties for the importation of equipment and machineries, free transferability of foreign currency through the Central Bank of Nigeria among others),  Ogah stated that the ministry has streamlined its processes for efficiency and transparency, in line with the Ease of Doing Business Policy.

Ogah, who expressed his pleasure at witnessing the inauguration, revealed the ministry’s willingness to engage with Russian companies to share its investment opportunities and ideas. He congratulated the chamber’s president, High Chief Obiora Okonkwo and members of the chambers for achieving the milestone.

In his remarks, former Senate President, Sen. Olubukola Saraki, stated that the chamber remained a great platform to increase business activities between Nigeria and Russia.

Earlier, Okonkwo, in his opening address, disclosed that the inauguration has created the needed bridge for a lot of Nigerians doing business with Russia. 

In a statement by the ministry’s head of press and public relations, Tine-Iulun M. A, while stating that Russia is ready to offer its high-tech manufacturing technologies to Nigeria, Obiora noted that the bridge which the chamber has established would be mutually beneficial to both countries. Speaking, the leader of the Russia delegation, Ambassador-at-large, Oleg Ozerov revealed his country’s willingness to build a strategic and dynamic relationship with Nigeria. He stated that both countries needed each other as, according to him, both countries have what the other needs.

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