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Mining: Nigeria, Russia Deepen Bilateral Relations to Develop Sector

The federal government in its continued effort to develop the mining and metal sector for the optimization of revenue generation for the growth of the nation’s economy is set to deepen bilateral relations with Russia.

The Minister of State Mines and Steel Development Mr. Uchechukwu Sampson Ogah, who disclosed this at the inauguration of Nigeria- Russia Chambers of Commerce and Industry in Abuja, noted that the establishment of the Nigeria-Russia Chambers of Commerce and Industry would play a central role in enhancing the business relationship of both countries as well as help in the development of the mining sector.

According to him, “the Nigeria-Russia Chambers of Commerce and Industry will become the fulcrum to galvanize the business relationships between Nigeria and Russia especially in the Minerals and Metals sectors.”

Ogah, while reiterating the President Muhammadu Buhari led administration’s commitment towards creating an enabling environment for genuine investors through incentives, like, 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 (CBN), among others, stated that the ministry has streamlined its processes for efficiency and transparency in line with the Ease of Doing Business Policy.

The Minister in a statement by the Director Press of the ministry on Wednesday in Abuja, expressed his pleasure at witnessing the inauguration and revealed the Ministry’s willingness to engage with Russian Companies to share its investment opportunities.

He however congratulated the President of the Nigeria-Russia Chambers of Commerce and Industry, High Chief Obiora Okonkwo, and Members of the Nigeria-Russia Chambers of Commerce and Industry for achieving the milestone.

In his remarks, Former Senate President, Senator Olubukola Saraki, stated that the Nigeria-Russia Chambers of Commerce and Industry is a great platform that would increase business activities between Nigeria and Russia.

Saraki commended the commitment of the President, Nigeria-Russia Chambers of Commerce and Industry, Chief Obiora Okonkwo for the initiative.
Earlier, the President of the Nigeria-Russia Chambers of Commerce and Industry, Chief Obiora Okonkwo, in his opening address, disclosed that the inauguration has created the needed bridge for a lot of Nigerians doing business with the Federation of Russia.

Chief Obiora while stating that Russia is ready to offer its high-tech manufacturing technologies to Nigeria, noted that the bridge which the Nigeria-Russia Chambers of Commerce and Industry has established would be mutually beneficial to both countries.

Speaking, the leader of the Russia delegation, Ambassador-at-large, Oleg Ozerov revealed Russia’s willingness to build a strategic and dynamic relationship with Nigeria.
He said that both countries need each other, stating: “Nigeria has what Russia needs while Russia has what Nigeria needs.”

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