World
Russia and Nigeria: Turning A New Page In Their Relationship?
By Kestér Kenn Klomegâh
On March 6, Russian Foreign Minister, Mr Sergey Lavrov, held talks with Nigeria’s Minister of Foreign Affairs, Mr Yusuf Maitama Tuggar, who was in Moscow on an official two-day working visit.
The visit, at the invitation of the Russian Foreign Ministry, which has a lot of distinctive implications and strategic interpretations, was a conscious follow-up to review and discuss Russian-Nigerian partnership issues that were raised long ago and during the second Russia-Africa summit held last July 2023.
Vice President Kashim Shettima headed the Nigerian delegation to attend that second Russia-Africa summit in St Petersburg, and Mr Tuggar was among the group.
He often reiterated that Nigeria is one of Africa’s biggest countries and Russia’s priority partner in the West African region.
In the opening remarks and with historical precision, Lavrov mentioned the frequency of Nigeria delegations visiting Moscow, saying “This meeting reflects the long-term friendship between our nations and good prospects for the development of our relations at this stage. We consider Nigeria a priority partner on the African continent.”
In practical terms, Russia has maintained a ‘cordial relationship’ with Nigeria these several years after the collapse of the Soviet era. The greatest achievement, of course, is sustaining the political consultations and frequent dialoguing on several economic issues which have not been effectively implemented in the country.
At the media conference after their ‘behind-the-scene’ discussions on March 6, Lavrov and Tuggar reaffirmed their commitment to the Russian-Nigerian cooperation in political, trade, economic, humanitarian and other areas. It also included the prospects for expanding business contacts and implementing joint projects in energy, mining and mineral processing, construction and modernising infrastructure and agriculture.
“With this aim in view, we have agreed to stimulate the activities of the Intergovernmental Commission for Trade, Economic, Scientific and Technological Cooperation and to make use of the capabilities of the Russia-Nigeria Business Council. We need to improve our legal framework for implementing projects of mutual interest. We have an interest in implementing the agreement on military-technical cooperation, which has recently been extended. Our Nigerian friends are interested in this too,” Lavrov emphasized.
The two Ministers, during the joint media conference, inevitably never pointed to a single project implemented, undertaken and completed during these several years. The ministry’s website says Lavrov has held his position as foreign minister for two decades, since 2004, and has been dealing with Nigeria and African countries.
More than 15 years ago, Lavrov held a review meeting with his former Nigerian counterpart, Mr Ojo Mbila Maduekwe, who paid a three-day working visit to Moscow. After the closed-door bilateral talks held in March 2009, both Ministers, as always, held a brief media conference and emphatically noted that Moscow was prepared to offer trade preferences to Nigeria.
They also agreed on a broad range of bilateral economic issues, many of which have still not been implemented. Until today, Russia has never honoured its promise of extending trade preferences, in practical terms, to Nigeria. Extending trade preferences was interpreted as an integral part of strengthening bilateral economic and trade cooperation between the two countries.
For trade relations between Russia and Nigeria and other African states to improve appreciably, Professor Dmitri Bondarenko, deputy director of the Russian Academy of Sciences’ Institute for African Studies, suggested “Russia gives some trade preferences to African countries – for example, tax exceptions or reduction among other measures. This can become an effective political step to strengthen economic cooperation with African countries.”
Today, Nigeria is Russia’s second-largest trade partner, only in theory, among sub-Saharan African countries. Russian business circles show an ever greater interest, with sweet rhetoric, in entering the promising market of that large country.
The volume of trade should be in the billions of dollars, even without military hardware. One of the major hindrances to free trade and a significant increase in trade transactions between Nigeria and Russia is the lack of direct air flights. This makes it more inconvenient and expensive for potential investors to travel easily to both countries. Besides, there is no adequate economic and social information available to potential Russian and Nigerian investors.
Russian and Nigerian ambassadors have come forth and back over the years. In May 2022, the Nigerian Ambassador to the Russian Federation, Professor Abdullahi Shehu, gave an inspiring lecture at the Diplomatic Academy of the Russian Ministry of Foreign Affairs.
Most of the points he raised in that lecture included decades of Moscow’s economic failures in Nigeria and many African countries despite the boast of several years of cordial relationship with Africa.
Professor Shehu’s lecture script points to the fact that President Vladimir Putin considers Africa a so-called second frontier, after Eastern Europe for encircling Western Europe…these reasons may sound strategic yet they remain largely speculative and conjectural.
Understandably, the perceived geopolitical irrelevance of Africa by Russia has changed only a little and new dynamics have beckoned on both sides of subsisting opportunities for increased collaboration between Africa and Russia.
Despite the tidal surge in the new Africa-Russia relations and given the strategic role played by the defunct Soviet Union, now succeeded by Russia, in the attainment of the independence of many African countries, both parties must accept the constraints posed on the former [Russia] by the new economic cum geopolitical realities. The acceptance of these new realities is important to properly assist in the management of Africa’s expectations from Russia particularly in the short term.
Today, for instance, Nigeria offers Russia the advantage of cheap and robust labour. Given Russia’s recent experience of sanctions by America and its Western allies, a new model of doing business with Africa through investment has become, not only sustainable but also imperative. Perhaps, one of the sectors where this model of doing business can be symbiotically harnessed is the field of agriculture and its value chain as a result of the steep rise in the large African market and the projected certainty of huge returns on investment in this sector, according to Ambassador Shehu.
Part of the major essence of this lecture was to look at the past to chart a course for the future, inhaling the fresh aroma of the beauty of the ‘rose’ in the Africa-Russia relationship, weeding out the thorns of inconvenience on which Africa and Russia have marched and straighten any crooked path along which both have passed to arrive faster to the desired destination. While Africa cherishes the important MOUs and agreements Russia has with Africa, there is a need to translate such agreements and MOUs into concrete realities. Additionally, balancing Russia’s commercial interests of arms sales to Africa will ensure that the latter enjoys relative stability and peace so vital for its development.
Without a doubt, Russia has had a long chequered history of post-Soviet diplomacy. Nigerian President Olusegun Obasanjo visited Russia in 2001. That year, Russia and Nigeria signed the fundamental document for interstate cooperation, the Declaration on Principles of Friendly Relations and Partnership. According to President Vladimir Putin, the Russian Federation, like the former Soviet Union, has always attached great significance to promoting its relations with the African continent. Nigeria occupies a special place among African countries. It is one of the largest and most powerful countries in Africa. Its head of state is a recognised leader not only on the continent but in the whole world.
Discussions ended with the administrative long list of projects, and on top were joint activities in the sphere of high technology and the launching of several satellites to be used by Nigeria for environmental monitoring and remote sensing of the Earth are being contemplated. That was on March 6, 2001.
Since then, there have been some deals and business proposals that have never seen the bright sunlight. As far back in June 2009, Dmitry Medvedev as president visited Nigeria for the first time, and held topmost state-level talks on possible nuclear energy, oil exploration and military cooperation. There were talks also focusing on the establishment of a petrochemical plant in Nigeria. Alongside there was also a declaration on principles of friendly relations and partnership between Nigeria and the Russian Federation.
Russian investors had wanted to revamp the Ajaokuta Iron and Steel Complex which was abandoned after the collapse of the Soviet Union more than three decades ago, and further take up energy, oil and gas projects in Nigeria, as well as facilitate trade between Nigeria and Russia. In addition, Russia has been prospecting for its nuclear power ambitions over the years. The promise was to build two nuclear plants estimated cost of $20 billion – the bulk of it by Russia is to boost Nigeria’s electricity supply.
Russia’s second-largest oil company, and privately controlled Lukoil, has gone back and forth these several years with plans to expand its operations in Nigeria, and in many West African countries. There has been a long-dead silence after Gazprom, the Russian energy giant, signed an agreement with the Nigerian National Petroleum Corporation [NNPC] on the exploration and exploitation of gas reserves with a new joint venture company known as NiGaz Energy Company.
Some experts argue that there are many other aspects of the bilateral relations. With high interest, Russian officials are pushing for military-technical cooperation. The supply of Russian military equipment could play a high-value addition to the fight against notorious Boko Haram. In most of the economic deals, the Nigerian political elites are under the strong influence of Paris, London and Washington.
South African Institute of International Affairs [SAIIA], a Johannesburg-based foreign policy think tank, put out a report titled “Russia’s Military Diplomacy in Africa: High Risk, Low Reward and Limited Impact” in part says that “Russia’s growing assertiveness in Africa is a driver of instability, its approach to governance encourages pernicious practices, such as kleptocracy and autocracy in Africa.” Worse is that Russia’s strengths expressed through military partnerships fall short of what is needed to address the complexities and scale of the problems facing those African countries. Russia encourages the military regimes [Burkina Faso, Mali and Niger] to hold onto political power, instead of constitutional democracy.
Nigeria is an economic powerhouse in the West African region. As well known, Nigeria is one of Africa’s fastest-growing economies and it has the largest population. Russia and Nigeria have some sort of economic relations, but these are not consistent with the long-standing cordial relations between both countries.
In addition, Nigeria is a vast market with huge potential for prospective foreign investors and so is Russia. Regrettably, investors from both sides appear to know little about these opportunities. This is, usually attributed to the apparent inadequate knowledge of the many investment opportunities in both countries. Despite criticisms, reports show that the majority prefer traditional markets – the United States and Europe, and now the Asian region. The African political elite and business people choose the United States and Europe for their holidays and as tourism destinations.
Lest we forget that Vladimir Putin held discussions with the President of the Federal Republic of Nigeria Muhammadu Buhari, who went to Sochi to take part in the first Russia-Africa summit in October 2019. Putin reminded during talks that priority to joint search for opportunities to broaden trade, economic and investment cooperation were assigned to the Intergovernmental Commission for Economic Cooperation and the Russia – Nigeria and Nigeria – Russia Business councils set up in 2006–2007.
In response, Muhammadu Buhari said in part: “Mr President, there are many similarities between Russia under your leadership and Nigeria’s aspirations for the future. We can learn a lot from the experience of Russia’s ongoing reforms, of transitioning from an oil-dependent economy to a modern, diversified and inclusive economy. Russia has through these reforms successfully privatised several state-owned entities, which have now become global household names. This is especially so in the energy, manufacturing, defence and the metallurgical sectors.”
So, it continues, without the least interruption, that Russia and Nigeria share experiences, exchange views on national and international platforms, maintain political dialogues, and discuss economic cooperation and humanitarian issues. Russia and Nigeria share similar positions at the United Nations. Russia and Nigeria have continued to keep a cordial and mutually beneficial relationship in the past years since 1991 after Soviet’s collapse.
The term – bilateral relations – is seen as a two-way street, Nigeria’s presence in the Russian Federation is only the diplomatic representative office. Public outreach diplomacy is generally ineffective, both ways between Russia and Africa. Compared, for example, to the American Growth and Opportunity Act (AGOA) and some trade preferences granted by Europe, Russians hardly encourage African presence in the Russian Federation. On the other hand, Russia hardly in speeches refers to the African Continental Single Market (AfCFTA). With an estimated 1.4 billion people, the market is potentially the largest, Africa – is the continent of the future.
As a matter of fact, to be part of this geopolitical arena, Russia has to take practical steps to move beyond AK-47 in raising its economic influence in Africa. It has to crack the local socio-cultural barriers and, in particular, the deep-seated bureaucracy too. In a continent beleaguered by the ravages of ethnic and political conflicts, Russian officials have to thoroughly study the local conditions before imposing strategic economic initiatives and engaging local African partners and stakeholders.
In summary, the Russian strategic policy interest generally in Africa and specifically in Nigeria, given the strong limitation of its current capability and its re-emergence in Africa, is an earnest attempt to regain part of Soviet-era influence. But these current relations, within the context of geopolitical changes, must necessarily be conducted with consistency and in a concrete manner, but not with mere rhetorics. It is about time to act and most importantly, aim at noticeable results. According to various narratives inside the continent, Russia appears only as an advocate of the emerging multipolar order and as a reliable virtual investor in Africa.
World
Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria
By Kestér Kenn Klomegâh
Over the past two decades, Russia’s economic influence in Africa—and specifically in Nigeria—has been limited, largely due to a lack of structured financial support from Russian policy banks and state-backed investment mechanisms. While Russian companies have demonstrated readiness to invest and compete with global players, they consistently cite insufficient government financial guarantees as a key constraint.
Unlike China, India, Japan, and the United States—which have provided billions in concessionary loans and credit lines to support African infrastructure, agriculture, manufacturing, and SMEs—Russia has struggled to translate diplomatic goodwill into substantial economic projects. For example, Nigeria’s trade with Russia accounts for barely 1% of total trade volume, while China and the U.S. dominate at over 15% and 10% respectively in the last decade. This disparity highlights the challenges Russia faces in converting agreements into actionable investment.
Lessons from Nigeria’s Past
The limited impact of Russian economic diplomacy echoes Nigeria’s own history of unfulfilled agreements during former President Olusegun Obasanjo’s administration. Over the past 20 years, ambitious energy, transport, and industrial initiatives signed with foreign partners—including Russia—often stalled or produced minimal results. In many cases, projects were approved in principle, but funding shortfalls, bureaucratic hurdles, and weak follow-through left them unimplemented. Nothing monumental emerged from these agreements, underscoring the importance of financial backing and sustained commitment.
China as a Model
Policy experts point to China’s systematic approach to African investments as a blueprint for Russia. Chinese state policy banks underwrite projects, de-risk investments, and provide finance often secured by African sovereign guarantees. This approach has enabled Chinese companies to execute large-scale infrastructure efficiently, expanding their presence across sectors while simultaneously investing in human capital.
Egyptian Professor Mohamed Chtatou at the International University of Rabat and Mohammed V University in Rabat, Morocco, argues: “Russia could replicate such mechanisms to ensure companies operate with financial backing and risk mitigation, rather than relying solely on bilateral agreements or political connections.”
Russia’s Current Footprint in Africa
Russia’s economic engagement in Africa is heavily tied to natural resources and military equipment. In Zimbabwe, platinum rights and diamond projects were exchanged for fuel or fighter jets. Nearly half of Russian arms exports to Africa are concentrated in countries like Nigeria, Zimbabwe, and Mozambique. Large-scale initiatives, such as the planned $10 billion nuclear plant in Zambia, have stalled due to a lack of Russian financial commitment, despite completed feasibility studies. Similar delays have affected nuclear projects in South Africa, Rwanda, and Egypt.
Federation Council Chairperson Valentina Matviyenko and Senator Igor Morozov have emphasized parliamentary diplomacy and the creation of new financial instruments, such as investment funds under the Russian Export Center, to provide structured support for businesses and enhance trade cooperation. These measures are designed to address historical gaps in financing and ensure that agreements lead to tangible outcomes.
Opportunities and Challenges
Analysts highlight a fundamental challenge: Russia’s limited incentives in Africa. While China invests to secure resources and export markets, Russia lacks comparable commercial drivers. Russian companies possess technological and industrial capabilities, but without sufficient financial support, large-scale projects remain aspirational rather than executable.
The historic Russia-Africa Summits in Sochi and in St. Petersburg explicitly indicate a renewed push to deepen engagement, particularly in the economic sectors. President Vladimir Putin has set a goal to raise Russia-Africa trade from $20 billion to $40 billion over the next few years. However, compared to Asian, European, and American investors, Russia still lags significantly. UNCTAD data shows that the top investors in Africa are the Netherlands, France, the UK, the United States, and China—countries that combine capital support with strategic deployment.
In Nigeria, agreements with Russian firms over energy and industrial projects have yielded little measurable progress. Over 20 years, major deals signed during Obasanjo’s administration and renewed under subsequent governments often stalled at the financing stage. The lesson is clear: political agreements alone are insufficient without structured investment and follow-through.
Strategic Recommendations
For Russia to expand its economic influence in Africa, analysts recommend:
- Structured financial support: Establishing state-backed credit lines, policy bank guarantees, and investment funds to reduce project risks.
- Incentive realignment: Identifying sectors where Russian expertise aligns with African needs, including energy, industrial technology, and infrastructure.
- Sustained implementation: Turning signed agreements into tangible projects with clear timelines and milestones, avoiding the pitfalls of unfulfilled past agreements.
With proper financial backing, Russia can leverage its technological capabilities to diversify beyond arms sales and resource-linked deals, enhancing trade, industrial, and technological cooperation across Africa.
Conclusion
Russia’s Africa strategy remains a work in progress. Nigeria’s experience with decades of agreements that failed to materialize underscores the importance of structured financial commitments and persistent follow-through. Without these, Russia risks remaining a peripheral player (virtual investor) while Arab States such as UAE, China, the United States, and other global powers consolidate their presence.
The potential is evident: Africa is a fast-growing market with vast natural resources, infrastructure needs, and a young, ambitious population. Russia’s challenge—and opportunity—is to match diplomatic efforts with financial strategy, turning political ties into lasting economic influence.
World
Afreximbank Warns African Governments On Deep Split in Global Commodities
By Adedapo Adesanya
Africa Export-Import Bank (Afreximbank) has urged African governments to lean into structural tailwinds, warning that the global commodity landscape has entered a new phase of deepening split.
In its November 2025 commodity bulletin, the bank noted that markets are no longer moving in unison; instead, some are powered by structural demand while others are weakening under oversupply, shifting consumption patterns and weather-related dynamics.
As a result of this bifurcation, the Cairo-based lender tasked policymakers on the continent to manage supply-chain vulnerabilities and diversify beyond the commodity-export model.
The report highlights that commodities linked to energy transition, infrastructure development and geopolitical realignments are gaining momentum.
For instance, natural gas has risen sharply from 2024 levels, supported by colder-season heating needs, export disruptions around the Red Sea and tightening global supply. Lithium continues to surge on strong demand from electric-vehicle and battery-storage sectors, with growth projections of up to 45 per cent in 2026. Aluminium is approaching multi-year highs amid strong construction and automotive activity and smelter-level power constraints, while soybeans are benefiting from sustained Chinese purchases and adverse weather concerns in South America.
Even crude oil, which accounts for Nigeria’s highest foreign exchange earnings, though still lower year-on-year, is stabilising around $60 per barrel as geopolitical supply risks, including drone attacks on Russian facilities, offset muted global demand.
In contrast, several commodities that recently experienced strong rallies are now softening.
The bank noted that cocoa prices are retreating from record highs as West African crop prospects improve and inventories recover. Palm oil markets face oversupply in Southeast Asia and subdued demand from India and China, pushing stocks to multi-year highs. Sugar is weakening under expectations of a nearly two-million-tonne global surplus for the 2025/26 season, while platinum and silver are seeing headwinds from weaker industrial demand, investor profit-taking and hawkish monetary signals.
For Africa, the bank stresses that the implications are clear. Countries aligned with energy-transition metals and infrastructure-linked commodities stand to benefit from more resilient long-term demand.
It urged those heavily exposed to softening agricultural markets to accelerate a shift into processing, value addition and product diversification.
The bulletin also called for stronger market-intelligence systems, improved intra-African trade connectivity, and investment in logistics and regulatory capacity, noting that Africa’s competitiveness will depend on how quickly governments adapt to the new two-speed global environment.
World
Aduna, Comviva to Accelerate Network APIs Monetization
By Modupe Gbadeyanka
A strategic partnership designed to accelerate worldwide enterprise adoption and monetisation of Network APIs has been entered into between Comviva and the global aggregator of standardised network APIs, Aduna.
The adoption would be done through Comviva’s flagship SaaS-based platform for programmable communications and network intelligence, NGAGE.ai.
The partnership combines Comviva’s NGAGE.ai platform and enterprise onboarding expertise with Aduna’s global operator consortium.
This unified approach provides enterprises with secure, scalable access to network intelligence while enabling telcos to monetise network capabilities efficiently.
The collaboration is further strengthened by Comviva’s proven leadership in the global digital payments and digital lending ecosystem— sectors that will be among the biggest adopters of Network APIs.
The NGAGE.ai platform is already active across 40+ countries, integrated with 100+ operators, and processing over 250 billion transactions annually for more than 7,000 enterprise customers. With its extensive global deployment, NGAGE.ai is positioned as one of the most scalable and trusted platforms for API-led network intelligence adoption.
“As enterprises accelerate their shift toward real-time, intelligence-driven operations, Network APIs will become foundational to digital transformation. With NGAGE.ai and Aduna’s global ecosystem, we are creating a unified and scalable pathway for enterprises to adopt programmable communications at speed and at scale.
“This partnership strengthens our commitment to helping telcos monetise network intelligence while enabling enterprises to build differentiated, secure, and future-ready digital experiences,” the chief executive of Comviva, Mr Rajesh Chandiramani, stated.
Also, the chief executive of Aduna, Mr Anthony Bartolo, noted that, “The next wave of enterprise innovation will be powered by seamless access to network intelligence.
“By integrating Comviva’s NGAGE.ai platform with Aduna’s global federation of operators, we are enabling enterprises to innovate consistently across markets with standardised, high-performance Network APIs.
“This collaboration enhances the value chain for operators and gives enterprises the confidence and agility needed to launch new services, reduce fraud, and deliver more trustworthy customer experiences worldwide.”
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