Nigeria seeks shift from political commitments to economic results at 3rd Russia-Africa summit
Nigeria has called for Africa-Russia relations to move beyond political declarations to measurable economic results that directly impact citizens.
The call was made by the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, while delivering Nigeria's address at the 3rd Russia-Africa Summit holding at the Grand Kremlin Palace in Moscow.
The minister said that while political solidarity between Russia and Africa remains strong, the partnership must now be judged by trade volumes, job creation, and industrial growth.
"There is the need for improved banking channels and payment systems to ease trade, looking at the current financial bottlenecks that continue to limit business transactions between Russian and African entities," Enikanolaiye stressed
He called for more private sector participation to drive the relationship, rather than leaving it solely to government-to-government agreements.
He listed priority areas for cooperation to include infrastructure, energy, digital economy and agriculture, sectors he said are critical to Africa's development aspirations and Nigeria's economic diversification agenda.
The minister also made a direct investment pitch, inviting Russian investors to Nigeria as Africa's largest market. He highlighted opportunities in renewables, nuclear technology for peaceful energy, solid minerals and manufacturing.
"Nigeria remains open to strategic partnerships that support value addition, technology transfer and local capacity building", he said.
Enikanolaiye further stated that Nigeria supports the emergence of a fair and equitable multipolar world order that respects the sovereignty of all nations.
"Nigeria backs the exploration of local currency settlement mechanisms with Russia as a way to reduce dependency on third-party currencies and cushion businesses from external shocks", the Minister said.
In his response, Russian President Vladimir Putin described Russia and Africa as natural allies in building a just multipolar order, stressing Moscow's commitment to deepening cooperation with the continent on the basis of mutual respect and non-interference.
The 3rd Russia-Africa Summit brings together African leaders, ministers and business executives to review progress since the last summit and chart a new framework for cooperation in trade, security and development.
Nigeria seeks shift from political commitments to economic results at 3rd Russia-Africa summit