On Tuesday, Abdullahi Shehu, Nigerian ambassador to Russia, encouraged investors from the European nation to localise the production of their goods in Nigeria.
Mr Shehu, in an interview in Moscow, urged the Russian investors to explore the enormous potential in Africa, particularly Nigeria.
Speaking on the just concluded 2nd Russia-Africa Economic and Humanitarian Summit, Mr Shehu identified trade as one area in which Nigeria would focus its economic cooperation with Russia.
“These include the area of trade. Almost all African countries are interested in trading with Russia. But the point that the Nigerian delegation made is that trade is good, but investment and financing are better,” the diplomat stated.
He explained this was because “under the current geopolitical situation, it is hard to buy and sell and transport goods from Russia to Africa because the logistic chains have been affected by the sanctions.”
The ambassador added,…