NIGERIA has struck a major deal with Russia on the completion of the abandoned Ajaokuta Steel Rolling Mill.
It is part of the agreements reached during a meeting between President Muhammadu Buhari and Russian President Vladimir Putin in Sochi, Russia, on Wednesday.
The agreement was reached during a bilateral meeting held on the sidelines of the ongoing Russia-Africa Summit.
A statement by the President’s Senior Special Assistant on Media and Publicity Malam Garba Shehu said the two leaders agreed to start new infrastructure projects and expand trade and investment, as well as strengthen security and military cooperation.
Nigeria and Russia will work together to improve the efficiency of Nigeria’s oil sector, which will see to rehabilitation of the oil refineries through a joint venture between Nigerian National Petroleum Corporation (NNPC) and Russia-based Lukoil.
Both NNPC and Lukoil will work towards prospection of oil in deep offshore.
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 Russia government agreed to support the development of Nigeria’s rail infrastructure by constructing 1,400 kilometres track from Lagos to the South-South city of Calabar.
There was also discussion on the advancement of an ongoing project for the establishment of a nuclear power plant in Nigeria. According to President Putin, the next step in the implementation of the project should be the commencement of construction of a power plant.
On security and military cooperation, President Buhari agreed to renew Nigeria-Russia Military Technical Agreement.
Buhari said: “I have directed the Minister of Defence to work with the Ministry of Justice to conclude this matter within the shortest possible time.”
This military cooperation agreement, the statement said, will enhance the direct procurement of military hardware on a government-to-government basis at a lower cost.
Putin also agreed to support the training of military personnel and modernisation of infrastructure and equipment.
On the Aluminum Smelter Company of Nigeria, Ikot-Abasi, Akwa-Ibom State, Buhari said he had asked the Ministry of Justice “to submit a comprehensive report on the UC Russel (the Russian owners of the plant) matter”.
“I want to assure you that our reforms aim to ensure such investments are concluded and actualised professionally and painlessly,” he said.
The two Presidents also addressed partnership in education and agriculture.
The Russia leader said they would give additional scholarships to Nigerians.
Buhari added: “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.”
Putin promised to promote joint efforts, given his country’s ranking as the current number one wheat producer in the world.
“We can do a lot together,” Putin added.
The Russian President said Nigeria should take advantage of Russia’s potassium resources to advance President Buhari’s local fertiliser production program.
Putin promised his country’s support for the geological prospection of Nigeria’s solid minerals.
He gave assurances of working with Nigeria and other African countries to secure and stop the incidents of piracy in the Gulf of Guinea.
President Putin expressed further determination to secure Nigeria and the rest of Africa from terrorists.
He told President Buhari that 2,000 ex-ISIS terrorists joined Boko Haram last year.
Buhari said: “To move forward, may I suggest that our countries organise 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.”
President Putin agreed to the proposal.
Both leaders emphasised the need for reform of the United Nations Security Council.
President Buhari asked Russia to support Nigeria’s aspiration for permanent membership of the council.
