Politics
Nigeria Signs MoU With Russia On Military, Energy And Others
The Nigerian government has signed a number of memorandum of understanding MoU with Russia in areas of military, energy, economy and trade.
The signing of the deals came as a result of President Muhammadu Buhari’s visit to Russia for the first Russia-Africa Summit held in Russia from Wednesday (October 23) and Thursday (October 24) 2019.
Nigerian President, Muhammadu Buhari departs Abuja for Russia
In the course of the summit the Nigerian President succeeded in sealing a number of agreements with the Russian counterpart.
The deals signed include:
-Russia signed a contract to supply 12 Mi-35 Hind E attack helicopters to Nigeria.
-Overall, Russia plans to send $4 billion worth of weapons to African countries in 2019, the state arms exporter said.
-An affiliate of Russia’s Rostec conglomerate, the Russian export centre, Russia’s Vi Holding industrial group and the African Export-Import Bank agreed to create an interstate platform for mining projects in Africa.
-Russia’s largest lender Sberbank, VEB and the Russian export centre teamed up with London-based investment firm Gemcorp Capital for a $5 billion deal to create a mechanism to support trade between Russia and African countries.
Buhari with Minister Of Foreign Affairs, Mr Geoffrey Onyeama on arrival for a three day Russia-Africa Summit in Sochi, OCT 21 2019.
It is expected that these deals would help boost the economy of the country when commenced.
President Buhari in Handshake with Vladimir Putin at the Russia-Africa Summit
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