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President Buhari secures 13 agreements after the Russia-Africa Summit.
President Putin and President Buhari came to an agreement to speed up and strengthen the relationship between both countries by first completing previous deals signed by both parties. In addition to that they agreed to start new project and increase investment, trade and military cooperation. The agreement will help with the security issues in the Nigeria and boost her economy.
Compared to the deals signed by other African countries after the summit, Nigeria got most of the juicy deals. Egypt has always enjoyed majority of the Russian deals, but after the Summit it’s obvious the tables has turned in favour of Nigeria.
Agreements between Russia and Nigeria
The 13 deals include:
- The rehabilitation of the fragile oil refineries in Nigeria through a joint venture between Nigerian National Petroleum Corporation (NNPC) and Lukoil ( a Russia based oil company)
- Nigeria and Russia also agreed to revive and solidify the venture between the NNPC and Russia’s gas giant, Gazprom, for the development of Nigeria’s enormous gas potential and infrastructure.
- The issue of the abandoned Ajaokuta Steel Rolling Mill on which a government-to-government relationship was agreed upon for completion and commissioning.
- The Russia government agreed to support development of Nigeria’s railway infrastructure by constructing 1,400 kilometers track from Lagos to the South-South city of Calabar.
- Active plans towards the ongoing project for the establishment of a nuclear power plant in Nigeria.
- Renewal of Nigeria-Russia Military Technical Agreement.
- Sorting the prolonged issue of the Aluminum Smelter Company of Nigeria (ALSCON) Ikot-Abasi, Akwa-Ibom State.
- In education, the Russia leader said as a first step they would give additional scholarships to Nigerians.
- Talking about agriculture, President Putin said “We seek your Government’s support especially in the areas of wheat production. Today, Nigeria produces less than one hundred thousand metric tons of wheat locally while our imports are projected to exceed five million tons in 2020. We therefore need your support to bridge the deficit which will create jobs and save our foreign exchange for other important areas like security, defence and infrastructure.”
- President Putin agreed to secure Nigeria and the rest of Africa from terrorists, adding that 2,000 ex-ISIS terrorists joined Boko Haram last year.
- Putin promised his country’s support for the geological foresight of Nigeria’s solid minerals.
- Putin also gave assurances of working with Nigeria and other African countries to secure and stop the incidents of piracy in the Gulf of Guinea as they did in securing the Somali coastal areas.
- Finally President Putin agreed to President Buhari who requested for both countries “to move forward may I suggest that our countries organize the fifth Joint Commission meeting to review and ratify all the agreements (about 40) contained in the Intergovernmental Nigeria-Russia Joint Commission on Economic, Scientific and Technical Cooperation Protocol of November 11, 2016.”