The formal launch of the Nigeria-Russia Chamber of Commerce will set in motion a ball of economic activities between both countries, this is according to Vice President Yemi Osinbajo.
Osinbajo said this on Monday while hosting delegations of the yet-to-be-launched Chamber of Commerce, led by its President, Obiora Okonkwo, in Abuja.
The VP said that he had no idea that a Nigeria-Russia Chamber of Commerce had not been formally established after a long history of trading between both nations.
He noted that the creation of the Chamber of Commerce was advantageous, given the benefits that come with bilateral trade.
He said, “After a very extensive period of collaboration between our countries, frankly, I was quite surprised that we don’t already have a Nigeria-Russia Chamber of Commerce and Industry.
“I assumed that such a body already existed; it is never too late to do a good thing.
“This is an auspicious time to do so, especially given all of the economic opportunities before us.”
Osinbajo said that the formalising of a Nigeria-Russia Chamber of Commerce and Industry would aid in scaling the prior trading model.
He added, “I think also that there have been several economic relationships that have blossomed for a while and several other business and commercial opportunities that are opening up here and there.
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“But I think there is a need to formalise and to have a channel such as the Chamber of Commerce and Industry.
“There is a need for that to happen so that we are better able to build upon what has taken place in the years gone by.
“This is a very unique opportunity for us to do really good work and to strengthen relations between our countries.”
Speaking, Okonkwo harked back to the Nigeria-Russia summit held in 2019, stating that the Eastern European nation had good intentions for Africa and that Nigeria could benefit from the summit, with a sequel “coming in 2022”.
He said, “If you look at the records, Russia should actually have Nigeria as number one trading partner but if you look at the statistics, it is indeed very low.
“We think that is has to do with the absence of an entity like chamber of commerce that has a role to facilitate such relationship.
“Recall that there was this Russia-Africa summit that took place in 2019; Russia means well for Africa and Nigeria has to be positioned properly to benefit from the summit.
“The second round of the summit is coming in 2022; so, we want not just to be present; we want to go there prepared for benefits that should be mutual for these countries.”
The Russian delegates include the Ministry of Foreign Affairs of the Russian Federation, Oleg Ozerov, and the country’s Ambassador to Nigeria, Alexey Shebarshim.
