Trade deficit with Russia worries Nigeria (2)

According to him, the mission is working on developing markets for non oil exports to boost trade with Russia.

The Nigerian envoy said the country had an existing Memorandum of Understanding (MOU) with Gazprom, a Russian gas firm, which will be implemented.

Assam said the MOU provides a framework for meaningful economic relations that will be mutually beneficial to both countries as well as strengthen bilateral relations.

According to the diplomat, the Russian expertise in gas will be deployed to develop the sector in Akwa Ibom and boost exports to Russia.

He said two Russian firms have already been invited to join in the oil and gas exploration activities in Akwa Ibom and will soon commence operations.

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