Russian companies, companies ready to invest in Nigeria, says the chamber president

Russian Chamber of Commerce President Sergey Katyrin said that Russian companies and corporations are ready to cooperate and invest in Nigeria.

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

This is what Katyrin said in Moscow on September 21, when she received the Nigerian Ambassador to Russia, Prof. Abdullahi Shehu, who was visiting the Russian Chamber of Commerce and Industry.

While welcoming the Chamber’s Ambassador, Katyrin stated that the Chamber regularly hosts country and company presentations that the Nigerian side can use to explore areas of collaboration and partnership.

He added that the chamber is organizing information-sharing exhibitions under the auspices of the Expocentre Fairgrounds.

Katyrin assured the Nigerian envoy of its full cooperation and the willingness of Russian companies and corporations to invest in Nigeria, and expressed the willingness of the Russian Business Council to facilitate such cooperation along with its Nigerian counterpart.

In his response, Shehu noted that Nigeria had had stable relations with the Russian Federation since the Soviet era.

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

“Nigeria is the gateway to Africa for all Russian companies.” A good example is the decision of the Russian company URALCHEM to set up in Nigeria.

“URALCHEM is one of the largest companies in the mineral fertilizer market and the second largest producer of nitrogen fertilizers in Russia, which will open a representative office and a fertilizer plant in Nigeria before the end of 2021,” it said.

The ambassador also urged other Russian companies to follow URALCHEM’s example of not only exporting products to Nigeria, but also producing them in Nigeria.

He added that the embassy intends to organize a trade mission to Nigeria shortly, while offering the Russian Chamber of Commerce and Industry to help organize trips for interested companies.

Shehu stressed that the embassy is ready to organize regular trips to Nigeria for representatives of Russian companies to give them the opportunity to better understand the risks and opportunities in the country.

He said part of his mandate is to facilitate trade and the government looks forward to working with Russian investors interested in the Nigerian economy.

Also speaking at the meeting was URALCHEM’s Chairman of the Board of Directors, Mr. Dmitry Konyaev, who confirmed that his company will shortly open its representative office in Nigeria and will also set up a factory.

He also emphasized the great potential of the Nigerian market for the supply of mineral fertilizers and the importance of exporting Russian knowledge and technology to Nigeria.

Konyaev further noted that URALCHEM is working with RUDEN University as part of a scholarship program 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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