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Nigeria, Russia to deepen bilateral relations to develop mining sector

Nigeria, Russia to deepen bilateral relations to develop mining sector

National vector fabric wave flags of Nigeria and Russia isolated on white background. 1 to 2 proportion.

Nigeria, Russia to deepen bilateral relations to develop mining sector

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, the Federal Government of Nigeria is set to deepen bilateral relations with Russia.

The Minister of State for 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.”

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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 three-years; exemption from customs and import duties for the importation of equipment and machinery; 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 also 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.

Nigeria, Russia to deepen bilateral relations to develop mining sector

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