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    ACCI calls for stronger economic ties between Nigeria and Russia

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    Naija247newshttps://www.naija247news.com/
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    By Emmanuella Anokam
    Abuja, July 9, 2021 The Abuja Chamber of Commerce and Industry (ACCI) on Friday called for deepened economic relationship between Russia and Nigeria.
    The Director-General of ACCI, Victoria Akai, made the call at a business conference organised by Moscow Chamber of Commerce and Industry and NIDO Russia .
    Akai, in statement in Abuja by Olayemi John-Mensah ACCI, Media/Strategy Officer said established economic, scientific and technical cooperations between Nigeria and Russia would facilitate excellent opportunities.
    According to her, it will upscale economic activities between both countries for mutually beneficial relations.
    She urged the Russian investors to take advantage of the opportunities of global economy with new frontiers for investment in e-commerce, e-learning, e-medicine; logistics and shipping, pharmaceuticals, housing and agriculture.
    She assured them of ACCI’s sustained efforts in collaborating with governments in developing friendly policies and initiatives to foster ease of doing business and create an enabling environment for local and foreign investors.
    In her presentation entitled, “Discovering the African Market: Nigeria as a Gateway to Africa, Prospect of the Nigerian Market for Russian business,” she was hopeful that the outcomes of the deliberations would be concretised by stakeholders with implementable actions.
    She said “Permit me to use this opportunity to invite Russian Companies who are into the Halal, Agric and food packaging sectors to take a stand at the Halal Expo Nigeria holding from Sept. 14 to Sept. 16, in Abuja.”
    The DG also stated the areas of business opportunities to include; ICT and telecommunications, Agric and Agro allied sector, Solid minerals, Security, Energy, oil and gas, Healthcare, Transport Marine exploration and Aerospace.
    “These are opportunities to boost bilateral business cooperation across sectors; Take Housing and Construction for instance: Nigeria currently has a housing deficit of over 17 million homes.
    “With the current and projected annual population growth rate of 2.6 per cent, there will be a housing deficit by 2050 unless we increase investment in housing and real estate. This presents a huge opportunity for Russian investors.
    “The rail and transport system is a viable sector to consider particularly in this period when Africa is in dire need of transport connectivity to facilitate movement under the Africa Continental Free Trade Area Agreement.
    “Improving Nigeria’s rail and transport system will go a long way to enhancing movement of persons and goods within Nigeria and between Nigeria and its neighbouring countries,” she noted.
    She said since Nigeria served as a hub that fed other West African markets with building and construction materials, electronics, auto parts, clothing and textile, machinery tools and hardware, Russian companies might establish manufacturing companies in Nigeria to serve West African market.

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