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Russia Ready to Supply Food, Fertilizers Abroad to Ease Rising Prices—Matviyenko

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Russia ready to supply food

By Kestér Kenn Klomegâh

Concretely aiming at strengthening further mutual bilateral parliamentary relations, Federation Council Speaker Valentina Matviyenko headed a delegation of Russian senators on a reciprocal visit from May 30 – June 01 to Maputo, Mozambique. The Chairman of the Federation Council delivered speeches to the deputies of the Assembly of the Republic of Mozambique and had a separate meeting with the Russia-Mozambique Parliamentary Friendship League.

Since the Soviet times and at all stages of history, Russia and Mozambique have been seen as “reliable and time-tested” partners in Africa. “Russia has always provided assistance to Mozambique and it keeps doing so. We are pleased to see your success in economic and social development. We note with satisfaction the steady development of the political dialogue,” Matviyenko said at a meeting with the Speaker of Mozambique Assembly Esperança Bias.

While talking about the Russia-Ukraine crisis, she reiterated that Russia is ready for signing agreements to establish peace with Ukraine. “Its key term was that Ukraine would remain an off-bloc, neutral state, like Austria for example, that it would be a non-nuclear state. Ukraine advanced its own conditions. But, regrettably, those who exercise external control did not let sign this agreement,” she added.

In spite of rising prices for agricultural products, Russia is ready to supply food and fertilizers abroad, but sanctions hampered these, according to Matviyenko, explaining that due to the factor of logistics Russia is unable to supply agricultural fertilizers on time and make full delivery. “The logistics are broken. Russia is unable to supply agricultural fertilizers to countries in need on time and in full. We are ready to fulfil our duties, but the imposed restrictions hinder us from doing it. Russia is still ready to supply food, wheat, and other types of food, but it is impossible to enter ports and so on,” she said.

Further during the conversation, a number of issues relating to the bilateral cooperation in the international arena, the most significant projects of Russian-Mozambique cooperation and the role of parliaments in their implementation were touched upon. A number of topics on the African agenda that are important for the two countries were also discussed.

She expressed satisfaction with the dynamic development of inter-parliamentary relations, the legal basis of which was the protocol on the development of inter-parliamentary cooperation between the Federation Council and the Assembly of the Republic of Mozambique.

“Today, we will take a new important step towards strengthening the legal framework and sign a full-fledged Agreement on inter-parliamentary cooperation between the Federation Council and the Assembly of the Republic of Mozambique that meets modern realities. This will allow us to bring our inter-parliamentary contacts to a higher level, and open up broad prospects for the exchange of experience in legislative activity,” Matviyenko emphasized.

According to the Federation Council Speaker, it is necessary to expand the scope and forms of cooperation between the legislators of the two countries and suggested establishing direct contacts between the relevant committees of the parliaments of Russia and Mozambique. For this purpose, the legislators proposed the possibility of improving the legal framework of bilateral relations.

The meeting thoroughly examined aspects of legislative activity within the context of combating terrorism and laundering of illegally acquired capital, as well as cooperation in trade, economic and investment fields with the conviction that not only large but also medium and small enterprises have good opportunities to strengthen economic ties.

The topic of digital transformation and the introduction of new technologies were touched upon. “We are ready to work together with our Mozambican colleagues to exchange experience in these and other areas of the digital agenda,” said Matviyenko.

The Speaker invited the Chairman of the Assembly of the Republic of Mozambique to participate in the upcoming International Economic Forum in St. Petersburg. As part of the visit, a ceremony was also held to hand over Russian charitable assistance to Mozambican children. This is children’s sports uniform, items for creative work and sweet gifts – as the future of both countries depend on investments in children’s education and upbringing.

The Russian delegation comprises Konstantin Kosachev, Deputy Speaker of the Federation Council of the Federal Assembly of the Russian Federation; Grigory Karasin, Chair of the Federation Council Committee on Foreign Affairs; Andrey Kutepov, Chair of the Federation Council Committee on Economic Policy and Andrey Shevchenko, Chair of the Federation Council Committee on Federal Structure, Regional Policy, Local Government and Northern Affairs.

The rest are Alexander Varfolomeev, First Deputy Chair of the Federation Council Committee on Social Policy; Irina Rukavishnikova, First Deputy Chair of the Federation Council Committee on Constitutional Legislation and State Building; Yuri Valyaev, Deputy Chair of the Federation Council Committee on Defence and Security; Mukarby Ulbashev, Deputy Chair of the Federation Council Committee on the Budget and Financial Markets; and Liudmila Skakovskaya, Member of the Federation Council Committee on Science, Education and Culture.

After the bilateral talks saw the signing of a communique between the Inter-Parliamentary Cooperation Agreement between the Federation Council of the Federal Assembly of the Russian Federation and the Assembly of the Republic of Mozambique. This document will lay the foundation for long-term inter-parliamentary cooperation, promote mutually beneficial ties, and develop the entire range of bilateral relations. The agreement also reflects plans for the future development of inter-parliamentary contacts.

According to Esperança Bias, it is gratifying to realize that bilateral relations are developing not only in the political but also in the economic field. She expressed satisfaction that the Russian campaigns could be represented in Mozambique.

“Our relationship dates back to the period when Mozambique was fighting for independence. Even after we gained independence, Russia has always been by our side. These relations are obvious in different areas,” Bias stressed. She thanked Matviyenko and her delegation for visiting Mozambique, and finally described the visit as a sign “Russia is always with Mozambique and Mozambique is always with Russia.”

Reports indicate that Russia, at the moment, is preparing for the second Russia-Africa summit, but the dates will be determined in cooperation with the African Union. The first Russia-Africa summit was held in Sochi on October 23-24, 2019.  It was co-chaired by the presidents of Russia and Egypt, Vladimir Putin and Abdul Fattah al-Sisi.

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Economy

APM Terminals to Invest $600m in Nigeria’s Maritime Sector

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apm terminals

By Modupe Gbadeyanka

The Nigerian maritime sector may soon witness the inflow of $600 million in investment from APM Terminals.

On the sidelines of the ongoing Africa CEO Forum in Kigali, Rwanda, the Regional President of APM Terminals for Africa-Europe, Mr Igor van den Essen, informed President Bola Tinubu that his company was interested in deepening its investment in Nigeria.

According to a statement issued by the Special Adviser to the President of Information and Strategy, Mr Bayo Onanuga, the investment would be deployed in Apapa port modernisation, logistics infrastructure, and long-term private-sector investment in Nigeria’s maritime sector.

President Tinubu welcomed the investments, emphasising that Nigeria is repositioning itself for greater competitiveness through ongoing economic reforms and infrastructure modernisation.

He said the country is determined to move beyond structural bottlenecks and outdated systems, stressing the need for advanced technology, faster cargo processing, and improved operational efficiency across the nation’s ports.

He emphasised that Nigeria possesses the market scale, talent base, and economic potential to support globally competitive maritime and logistics infrastructure investments and called on other investors to take advantage of Nigeria’s reform outcomes.

Earlier, Mr Igor van den Essen lauded President Tinubu’s reform agenda and policy direction, which had strengthened investor confidence and created renewed momentum for long-term infrastructure investments.

He described Nigeria as a strategic stronghold within its African operations, referencing over 20 years of collaboration and substantial existing investments in the country’s port ecosystem.

He reaffirmed his company’s commitment to expanding investments in Nigeria and disclosed plans to support the development of world-class terminal infrastructure and technology-driven port operations.

He also commended Mr Tinubu for establishing the National Single Window (NSW), which has streamlined trade procedures, improved Customs coordination, and reduced delays in cargo clearance.

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Economy

Dangote Sues FG Over Fuel Import Licences

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Fifth Crude Cargo Dangote Refinery

By Adedapo Adesanya

Dangote Petroleum Refinery has filed a new lawsuit against the federal government over the fuel import licences issued to ‌marketers and the Nigerian National Petroleum Company (NNPC) Limited.

Last week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued licences to six marketers for the importation of 720,000 metric tonnes of Premium Motor Spirit, known as petrol.

The marketers are NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono. The development comes amid claims by the NMDPRA that the Dangote Petroleum Refinery now supplies over 90 per cent of Nigeria’s daily petrol consumption.

Dangote said in the filing that the licences issued undermine its operations and contravene the law, which it argues allows imports only when domestic supply falls short.

Named in the suit against the country is the Attorney General and Minister of Justice, Mr Lateef Fagbemi. The federal government can only be sued via his office.

The case signals renewed tensions almost a year after Dangote withdrew an earlier lawsuit challenging similar licences. That case sought to nullify import permits issued to the NNPC and several traders.

The new filing asks the Federal High Court in Lagos to set aside import permits issued or renewed by the NMDPRA, arguing they breach an earlier order to maintain the status quo.

Dangote ⁠ended the earlier lawsuit in July 2025 without explanation, leaving unresolved questions over competition and supply in one of Africa’s largest fuel markets.

Nigeria ⁠has long relied on petrol imports due to underperforming state refineries. However, Dangote’s 650,000 barrels ⁠per day capacity refinery was touted to end that dependence.

Despite the presence of the facility, imports have continued to cover supply gaps as the refinery ramps up output.

The NMDPRA did not issue a single import licence in the first quarter of 2026 because the Dangote refinery had the capacity to meet Nigeria’s petrol demand.

Business Post gathered that only upon intervention by President Bola Tinubu were the licenses granted for the second quarter by the NMDPRA.

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Economy

Nigeria’s Inflation Rises to 15.69% in April as Middle East Crisis Persists

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hedge against inflation

By Adedapo Adesanya

The Nigeria Bureau of Statistics (NBS) has revealed that Nigeria’s headline inflation rate in April 2026 rose to 15.69 per cent, beating analysts’ expectations of 15.95 per cent, as the fallout from the Iran war continued to affect the global economy.

The statistical office on Friday showed the headline inflation rate for April on a month-on-month basis was 2.13 per cent, while the food inflation rate in the review month was 16.06 per cent on a year-on-year basis.

The rise in prices comes as an energy price shock stemming from the continued conflict in the Middle East, which stoked food prices and affected relative exchange rate stability.

According to the NBS, “this can be attributed to the rate of change in the average prices of the following products: Millet whole grain, yam flour, ginger (Fresh), beef, garri, tam tuber, pepper (Fresh), cray fish, cassava tuber, Beans, Irish Potatoes, tomatoes (fresh), wheat grain (Sold loose), soya beans, guinea corn, plantain, carrots (Fresh) etc.”

“The average annual rate of food inflation for the twelve months ending April 2026, relative to the previous twelve-month average, was 17.55%, which was 17.05% points lower than the average annual rate of change recorded in April 2025 (34.60%),” the NBS said.

Analysts at Coronation Research had earlier projected that the inflation rate in Nigeria would be at 15.95 per cent on a year-on-year basis in April 2026. It added that the expected inflation rate signals a return toward the underlying disinflation trajectory and could be a pivotal data point in shaping Monetary Policy Committee (MPC) deliberations at the next policy meeting.

It also expects food inflation to further ease, as food and non-alcoholic beverages remain the dominant contributor to headline CPI, accounting for about 40 per cent of the Consumer Price Index (CPI) basket.

The MPC of the Central Bank of Nigeria (CBN) will meet this month, the first since the Iran War started in late February, to review core monetary policies and possibly make adjustments.

The committee reduced the Monetary Policy Rate (MPR) by 50 basis points from 27.0 per cent to 26.5 per cent at its 304th Monetary Policy Committee (MPC) meeting in February.

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