Mine, Steel: FG partners Russia to develop sector
By Gloria Akudoro, Abuja.
The Federal Government has created a solid foundation for bilateral relations with Russian Authority to develop Mine and Steel Industry for the optimization of revenue generation for the growth of the nation’s economy.
Minister of State Mines and Steel Development Dr. Uchechukwu Sampson Ogah, made the announcement at the Inauguration of Nigeria- Russia Chambers of Commerce and Industry on Tuesday, 28th September, 2021 in Abuja.
Dr Ogah said that the establishment of the Nigeria-Russia Chambers of Commerce and Industry will open a new route for business relationship for both countries and accelerate the development of the mining sector.
According to him, “The Nigeria-Russia Chambers of Commerce and Industry will become the fulcrum to galvanise the business relationships between Nigeria and Russia especially in the Minerals and Metals sectors.”
The Minister reiterated that President Muhammadu Buhari-led administration is committed towards creating an enabling environment for genuine investors through incentives such as granting 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) and among others.
He added 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 delight at witnessing the inauguration, revealed the ministry’s willingness to engage with Russia to share its investment opportunities and also lauded the effort of High Chief Obiora Okonkwo, President of Nigeria-Russia Chambers of Commerce and Industry and its members for achieving the milestone.
In his remarks, Former Senate President, Senator Olubukola Saraki, stated that the Nigeria-Russia Chambers of Commerce and Industry is 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, disclosed that the inauguration has created the needed bridge for a lot of Nigerians doing business with the Federation of Russia.
He assured that Russia is ready to offer its high-tech manufacturing technologies to Nigeria, noting that alliance between the two countries is going to be mutually beneficial.
Also speaking, the leader of the Russia delegation, Ambassador-at-large, Oleg Ozerov revealed Russia’s willingness to build strategic and dynamic relationship with Nigeria, adding that both countries need each other for economic development.
