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 for Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, who disclosed this at the inauguration of Nigeria – Russia Chamber of Commerce and Industry, on Tuesday, in Abuja, noted that the establishment of the Nigeria-Russia Chambers of Commerce and Industry would play a central role in enhancing business relationship between the countries, as well as help in the development of the mining sector.
A statement from the ministry quoted the minister as saying that “the Nigeria-Russia Chamber of Commerce and Industry will become the fulcrum to galvanise the business relationship between Nigeria and Russia especially in the minerals and metals sector.’
The Minister, while reiterating the commitment of the administration of President Muhammadu Buhari towards creating an enabling environment for genuine investors through incentives such as 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.
Dr. Ogah, who expressed his pleasure at witnessing the inauguration, disclosed that the willingness of government to make Russian companies share investment opportunities. He 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 President of the Senate, Senator Olubukola Saraki, described the Nigeria-Russia Chamber of Commerce and Industry as a great platform that would increase business activities between Nigeria and Russia. He 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 assured that Russia is ready to offer its high-tech manufacturing technologies to Nigeria, noting that the bridge which the Nigeria-Russia Chambers of Commerce and Industry has established, would be mutually beneficial to both countries.
Leader of the Russia delegation, Ambassador-at-large, Oleg Ozerov revealed Russia’s willingness to build strategic and dynamic relationship with Nigeria. He said both countries need each other, stating that “Nigeria has what Russia needs while Russia has what Nigeria needs.”