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Russian Investors Set To Storm Nigeria Next Year

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By Kingsley Opurum, Abuja –

In a bid to boost Nigeria’s recuperating economy and create more jobs, a lot of Russian investors have signified interest in bringing their companies in the country.

The Russian Ambassador to Nigeria, Nikolay Udovichenko, made the disclosure during a press briefing with select journalists in Abuja recently.

The envoy said that these investors have already identified power, agriculture, solid mineral and education as critical sectors to venture into, adding that the Russian Federation has started planning to have a joint corporation with Nigeria.

“We are expecting more Russian companies in Nigeria starting from next year (2018) and these companies have identified areas where they have indicated interest. They are power, agriculture, solid mineral and education. Also, Russia is planning to have a joint corporation with Nigeria in order to increase their bilateral ties,” he said.

Meanwhile, it is believed that the development will prove boon for the nation’s economic activities owing to the recent employment report released by National Bureau of Statistics (NBS) that no fewer than 4.4 million Nigerians lost their jobs in 2017.

The NBS report stated that the percentage of unemployed Nigerians increased from 16.2 percent in the second quarter of 2017 to 18.8 percent in the third quarter.

On the reason behind the poor trade volume between Russia and Nigeria, which currently stands at $400 million, he explained that it is in default of crude oil trade between the two countries.

Speaking on Syria crisis, Udovichenko said that Russia, Turkey and Iran are the only countries that have been working round the clock to guarantee peace in the war-torn Syria. He also added that the world’s most dreaded terrorist organization, ISIL has been crushed and does no longer exist in the territory of Syria.

 



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