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Home Diplomatic News

Nigeria’s Quest For FDI Receives Boost as Russia Set to Establish Agro-Industrial Cluster

News Editor by News Editor
May 3, 2025
in Diplomatic News
0
Nigeria’s Quest For FDI Receives Boost as Russia Set to Establish Agro-Industrial Cluster

Russia is set to establish an agro-industrial cluster in Nigeria, according to Maxim Petrov, Russia’s trade representative in the West African country.

“The agro-cluster being created will include an elevator, a mill and pasta production facilities,” Petrov said in an interview with RIA Novosti. “Developing this infrastructure will enable us to significantly increase grain exports to West Africa.”

Petrov also revealed that five Russian companies are expected to register in Nigeria’s Lekki free economic zone in Lagos in 2025, drawn by the location’s business tax advantages.

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The Nigerian project also involves constructing a mini oil refinery using Russian equipment with a daily capacity of up to 6,000 barrels of petroleum products.

Additionally, plans are underway to establish a Russian automobile distributor in Nigeria and create a company to develop a network of methane fuelling stations across the country.

In a separate development, a delegation from the Russian Ministry of Defense visited Nigeria to discuss military and military-technical cooperation.

Representatives of the Ministry of Defense confirmed their commitment to supporting Nigeria’s efforts to combat international terrorism during a meeting with the Chief of Defence Staff of the Armed Forces of Nigeria, General Christopher Musa.

News Editor

News Editor

SUMMIT POST (www.summitpostnews.com) is an Online news medium, powered by Highland Media Ltd. We publish a wide range of content, including Politics, Business, Sports and Entertainment on and about Nigeria, Africa and beyond. Follow us on social media for all the latest news and analysis. Contact us: WhatsApp: +234-803-209-6072; Call: +234-705-252-6124 Email: summitpostnigeria@gmail.com

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SUMMIT POST NEWS (www.summitpostnews.com) is an Online news medium, powered by Highland Media Ltd. We publish a wide range of content, including Politics, Business, Sports and Entertainment on and about Nigeria, Africa and beyond. Follow us on social media for all the latest news and analysis. Contact us: WhatsApp & Calls ‪+234-803-209-6072‬, ‪+234-705-252-6124‬: Email: summitpostnigeria@gmail.com

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