n Journal of African Foreign Affairs - Trade and investment relations between Nigeria and Russia

Volume 1, Issue 2
  • ISSN : 2056-564X
  • E-ISSN: 2056-5658


The dynamics of relations between Nigeria and Russia is best understood from the prism of trade and investment relations between them. The relationship, which began on a low key entered a new phase following the historic support given to Nigeria by the Soviet Union during Nigeria's civil war (1967-70). This opened the gates for the development of a robust relationship in economic, political, security, social and cultural spheres. The disappearance of ideological differences since the 1990s, as well as the return of Nigeria to democratic rule since 1999, further broadened the space of diplomatic contacts and discussions to explore opportunities for mutually beneficial relations between them. Despite the efforts on the part of both countries to reposition their relationship for mutual benefits, the potential areas for trade and investment between them remain quite huge and untapped due to several unresolved issues such as the case of Ajaokuta project. The paper concludes by recommending that Nigeria and Russia need to move their bilateral relation to a new level of functional cooperation in key and strategic economic sectors, so as to increase both the quantity and quality of trade and investments between them.

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