General news

Russian coy, businesses to invest in Nigeria, says chamber president



Russian coy, businesses to invest in Nigeria, says chamber president

By Maureen Okon Russian Chamber of Commerce President Sergey Katyrin said Russian businesses and enterprises are ready to partner and invest in Nigeria.

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

Katyrin said this in Moscow during the reception of the Nigerian Ambassador to Russia Prof. Abdullahi Shehu, who visited the Russian Chamber of Commerce and Industry.

Katyrin said the chamber regularly holds country and business presentations, which the Nigerian side can take advantage of to explore areas of cooperation and partnership.

He adds that the Chamber organizes information exchange exhibitions under the aegis of Expocentre Fairgrounds.

Katyrin assured the Nigerian envoy of his full cooperation and the willingness of Russian businesses and enterprises to invest in Nigeria, expressing the willingness of the Russian Business Council to facilitate such cooperation with his Nigerian counterpart.

In response, Shehu noted that Nigeria has maintained stable relations with the Russian Federation dating back to 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 an African commercial hub and economic hub of the West African sub-region.

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

“URALCHEM is one of the largest companies in the mineral fertilizer market and the second largest producer of nitrogenous fertilizers in Russia, to open a representative office and a fertilizer factory in Nigeria before the end of 2021,” said he declared.

The Ambassador also called on other Russian companies to follow URALCHEM’s example to not only export products to Nigeria, but also produce such goods in Nigeria.

He added that the embassy was planning to organize a trade mission to Nigeria soon, 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 of representatives of Russian companies to Nigeria to allow them to better understand the risks and opportunities in the country.

He said part of his mandate was to facilitate trade and the government was eager to work with Russian investors interested in the Nigerian economy,

URALCHEM’s board chairman, Mr. Dmitry Konyaev, also spoke at the meeting, which confirmed that his company would soon open its representative office in Nigeria and also establish a factory.

He further underlined 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 reported that URALCHEM is working with RUDEN University, through a scholarship program, to encourage Nigerians to study agricultural specialties and return home to transfer the technology to Nigeria.

reports that Mr Konyaev was elected as the new chairman of the Russia-Nigeria Business Council in May 2021.

Source: NAN

Short Link:


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @

Recent Posts

Mohamed Salah breaks Premier League record as Liverpool crush Man United at home Additional 124 residents of Enugu community benefit from free medicare, others AFRICMIL urges ICPC to probe multi-billion naira fraud in Nigeria Police Trust Fund Digital Nigeria Day: ICT sector saves over N5bn for FG in 2 years – Pantami Gov. Okowa hails Team Delta for unrivaled topping of Youth Games medals table Buhari leaves for Saudi Arabia Monday for investment summit, Umrah 2023: Okowa urges Delta Central to remain united Sen. Olujimi wants 30% women representation in ECOWAS Parliament enforced FCT to revitalise Agric extension services to boost food production Myanmar activist arrested in junta raid INEC to provide braille ballot papers for blind voters at Anambra guber polls Rivers not fighting FG over tax collection – Wike NGE partners U.S. Embassy to train journalists on freedom NTI restates commitment to quality teacher education NDLEA intercepts 2,060kg heroin, other drugs Police repel IPOB attack on Unwana-Afikpo Division, kill 1 attacker Weekly Review: Buhari talks tough on Anambra election, Insecurity Woman arrested for smuggling skunk hidden in wraps of akpu into NDLEA cell for suspect in custody Africa Investment Forum: Projects Worth $ 140 Million On The Table To Boost Vaccines And Health Care In West And East Africa Taliban offer jobs for wheat to tackle hunger and unemployment Pope urges intervention on Libyan migrant crisis PDP wins rescheduled Zango Kataf LG poll, clinches 9 out of 11 councillors Man shot dead in Kashmir as security tight for minister’s visit Federal Poly Bauchi sacks 2 lecturers over sexual harassment, 30 students for exam malpractices, certificate forgery Man asks Italian police to jail him to escape wife at home FAAN deploys new equipment at airports to improve safety CBN supports healthcare sector with N200bn to drive economic recovery Deadly blast in Ugandan capital a ‘terrorist act’ NIRSAL to partner NGE on empowerment Turkey’s Erdogan orders expulsion of 10 ambassadors Post-COVID-19: Wadada to empower 1,000 women FAAN deploys new equipment at airports to improve safety First Bank makes U-turn, confirms Otedola’s acquisition of 5.07% equity stake Meet the brave Abuja-Kaduna train driver, Ziya’u Yusuf, who survived gun and bomb attacks Galmudug communities push for greater participation of women in politics Obama hits the stump in US battleground Virginia NOUN matriculates 14,953 students for 2020/2021 academic session Buratai’s comments on North-East insecurity quoted out of context – CSO Travel of Acting Deputy Secretary Lempert to Tunisia and Libya High-level United Nations delegation to visit farmers and review progress of rural development projects in Egypt Turkey’s Erdogan orders expulsion of 10 ambassadors 837 inmates escaped from Oyo Prison, 262 recaptured – Official Congress: APC panel arrives Kano, upholds Abdullahi Abbas election Six killed by landmine in Senegal’s Casamance region Mount bags treble as Chelsea hit Norwich for seven 65th birthday: Kwankwaso commissions rehab center, Juma’at mosque in Kano China passes law to reduce pressure on children from homework NOUN V-C assures 14,953 newly admitted students of better welfare Osun gov.calls for collaboration of all levels of govt. to address insecurity  NCAC inaugurates Nigeria-Ethiopia friendship club