Connect with us

News

NACCIMA seeks Russia’s help on Ajaokuta Steel

Published

on

The National vice President of the Nigerian Association of chambers of Commerce, Industry, Mines and Agriculture, Adetokunbo Kayode, has said Nigeria is ready to do business with Russia to boost its economy.

Kayode also called on Russia to assist Nigeria towards resuscitating the Ajaokuta Steel Mill to expedite the country’s industrialisation.

He made the appeal while addressing a delegation of Russian Companies Chief Executive Officers during their visit to the office of the Minister of Industry, Trade and Investment, Niyi Adebayo in Abuja.

He said, “Nigeria is always ready and willing to do business with Russia to ensure that our economy moves to the next level. I want to also use this opportunity to state that there is need for the Russian Government to assist Nigeria towards resuscitating the Ajaokuta Steel Industry to fast track the country’s industrialisation.”

The Ajeokuta Steel Company, which was established in 1979, is yet to commence full operations in its over 42 years despite several failed attempts at privatisation and concessions by the government.

Speaking further, Kayode noted that mutual collaboration was also needed in the areas of defence, mining, agriculture and livestock value chain among others.

 He equally called for the establishment of Nigerian Russian Export Free Zones to boost export of products among both countries and other nations of the world.

Also speaking, the Nigerian Ambassador to Russia, Abdullahi Shehu, who led the Russian delegation to the minister disclosed that 19 Russian companies had already indicated interest to invest in various areas of Nigeria economy.

He expressed the hope that move would go a long way to enhance national economic development.

The ambassador promised to continue to attract Russian investors to Nigeria to assist small and medium-scale businesses in the country.

In a remark, the Chairman, Nigerian In Diaspora Organisation, Mr Uwem-edimo Sampson, said plans were underway to establish a servicing centre for Russian manufacturers in the country, which would serve as link between companies from the two countries.

He stated that this would go a long way to enhance industrialization in Nigeria.

On his part, the minister of trade stressed the need for a closer relationship between the two countries, while assuring them of a conducive business environment for Russian investors.

Copyright PUNCH.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: [email protected]

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics1 min ago

JUST IN: FG lifts suspension on Emirates Airline

News7 mins ago

Currency in circulation rose by N129bn in October –CBN

News29 mins ago

Gunmen demand N35m ransom to free Ondo principal, VP, teachers

Local43 mins ago

UNILAG to host 10,000 students, 136 universities

News53 mins ago

Greed factor: Why Nigerians are losing billions to get-rich-quick investment frauds

Local1 hour ago

Nigerian Army gathers influencers for “modern warfare” on social media

News1 hour ago

How N17bn Paris Club refund landed Obiano on EFCC’s watch list

Local1 hour ago

Why snakes enter toilets and natural remedies to scare them away from homes

News2 hours ago

Copyright infringement, defamation major problems in showbiz —Candy Mamalouk

Local2 hours ago

Why Nigerian founders attracted $900 million investment: Emefiele

Politics2 hours ago

Bianca Ojukwu sends ‘important’ message to Buhari over Nnamdi Kanu

News2 hours ago

Economic plan saved 1.3 million jobs, says FG

Local2 hours ago

IPOB agitation fuelled by marginalisation; Nnamdi Kanu should be released: Bianca Ojukwu

Politics2 hours ago

CONFIRMED: Tinubu contesting for president in 2023 – elder statesman

News2 hours ago

Railway police command CP moves to eject 200 families from Lagos barracks Monday

Local3 hours ago

Kwara United beat Oluyole Spikers; Kada Kings down ABM

News3 hours ago

I feel like committing suicide whenever I see photos of my two daughters kidnapped since 2009 – 64-year-old Rivers retiree

Local3 hours ago

NMA seeks establishment of Health Bank

News3 hours ago

Fuel hike: Nigerian students threaten nationwide shutdown

News3 hours ago

Weekly diaspora remittances rise to $100m, says Emefiele

Local21 hours ago

Netflix invites Nigerians to scriptwriting programme

News23 hours ago

Rema faults DJ Neptune for releasing his song without permission

Health22 hours ago

The #1 Best Holiday Food to Eat for a Flat Belly, Says Dietitian

News13 hours ago

Uganda risks losing only international airport over Chinese loan

News21 hours ago

Accountability will remain PDP’s watchword, promises Ayu

Entertainment18 hours ago

“Does Google read minds too?” – Reality TV star, Erica left shocked by an experience in Dubai

Entertainment21 hours ago

Naira Marley’s sister, Subomi buys herself a Mercedes Benz GLK

World14 hours ago

India: Islamic scholar says Muslims should stay away from malls, Allah dislikes them, women look at men

Business News21 hours ago

Reminiscing on the Loss of a Friend, Dreams Deferred, and Bold New Beginnings

Local10 hours ago

NDLEA arraigns two men for dealing in 789kg cannabis

Business News22 hours ago

Malawi, Mozambican Agree to Strengthen Economic Relations

World21 hours ago

California County Mandates Masks for Private Thanksgiving Celebrations at Home

Business News22 hours ago

Stanbic IBTC Capital Assures Clients More Innovative Solutions

Metro16 hours ago

Kim Jong Un bans leather coats to stop citizen copying his look

Politics16 hours ago

JUST IN: ‘Buhari’s controversial tweet on Biafra wasn’t a threat’ – Presidency

News24 hours ago

Amotekun rescues Fulani abducted by kinsmen, arrests one in Ondo

News22 hours ago

Court sentences four-year-old’s kidnapper to death in Akwa Ibom

Local22 hours ago

CBN gives N30 million to six students

News10 hours ago

Keyamo replies Reps, says 774,000 jobs successful, beneficiaries paid N40bn

Health21 hours ago

8 Ways To Avoid The Dreaded Thanksgiving Food Coma

Trending