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Saturday, 08 August 2009 12:55

Kogi State (Nigeria) Presented its Investment Opportunities to Russian Business Community

MOSCOW, July 22 (Buziness Africa) - On July, 21 official reception of Nigerian Kogi state delegation headed by the Ambassador of Nigeria in Russia took place in the Chamber of Commerce and Industry of Russian Federation (CCI of Russia) in Moscow. Members of Business Council Russia-Nigeria, members of the Coordination Committee on Economic Cooperation with African States (south of Sahara) and representatives of Nigerian business in Russia took part in the event.

In his opening speech Sergey Vasiliev, Director of the International Cooperation Department of the CCI of Russia, noticed that “Nigeria is one of the most developed countries in Africa. Besides that, Nigeria is one of the first African countries with the business community of which Russian business organizations have established cooperation. This gives promise that active efforts of both parties will lead to our trade turnover amounting to billiards of dollars in several years”.

As Timothy May Shelpidi, the Ambassador of the Federal Republic of Nigeria in Russia, noticed, “Today we are re-creating history and creating the future of business relations between Nigeria and Russia. Our delegation representing one of the 36 Nigerian States has seen many opportunities for cooperation of Russian and Nigerian companies”.

Professor Aaron Isa Baba, Special Adviser to Kogi State Governor, made a presentation of his State for the representatives of Russian business community. Special focus in the speech of Professor was put on investment opportunities for prospective cooperation of the two countries. In the first place he mentioned great opportunities in the agricultural sector of economy, mining and tourism development. He also reassured participants that the Government of Kogi State will assist Russian investors to minimize risks and increase profitability of their investments to the economy of the State, for which special preferences are provided.

In the framework of their visit to Russia Kogi State delegation have visited one of the leading enterprises of the biggest machine-building holding Concern Tractor Plants. As Andrey Orzhebovsky, Director of the Sales Center for Southern Africa of CHETRA – Industrial Machinery has said, “Most of all Nigeria needs simple agricultural machinery as well as machinery for the mining industry. Specialized trade company of the Concern Tractor Plants CHETRA – Industrial Machinery is ready to offer a wide range of the best modernized and innovative machinery and equipment manufactured by the enterprises of the Tractor Plants group of companies.

As a result of the visit of the Nigerian delegation to Cheboksary it was agreed and signed to establish a base service center and a network of service stations in Africa. This will allow not only to increase employment for qualified servicemen but also to organize training for local operators and servicemen and advance their qualification.

Participants of the event noticed that a powerful impulse for activation of business contacts between Nigeria and Russia was given by the visit of the President of Russian Federation Dmitry Medvedev to the Republic of Nigeria on June 24, 2009. The Russian delegation of business representatives was headed by Albert Bakov, Chairman of Business Council Russia-Nigeria, First Vice President of machine-building holding Concern Tractor Plants.

Then the contract for the delivery of new generation of Russian heavy machinery CHETRA for the construction industry was signed for the first time in the post-soviet history of relations.

According to Albert Bakov “Russian business shows great interest in investment opportunities in Nigeria and is ready to actively participate in the realization of key elements of the Federal Government of Nigeria programme «Vision 2020» for effective and fastest achievement of strategic goal set by the current President of the Federal Republic of Nigeria Mr. Olusegun Obasanjo”.


Concern Tractor Plants – the biggest manufacturer of off-road machinery, equipment and spare parts, the products of which are represented in the key sectors of Russian and CIS economy as well as the rest of the world. Products of the holding is used in mining, oil and gas industry, metallurgy, transport and defense, infrastructure and road construction as well as in forestry, public service and agriculture.

Vertically-integrated production model allows Concern Tractor Plants to provide a full life cycle of its products – starting from research and development, metal and spare parts production to marketing, sales, after sales servicing and maintenance through a specially established service center.

Kogi state connects the Federal Capital Territory of the Republic of Nigeria with 22 Southern States. The capital – city of Lokoja – was the administrative capital of the British colonial government after the amalgamation of Northern and Southern Nigeria Protectorates into one nation called Nigeria in 1914. It is a centre of agricultural region located at the confluence of the Niger and Benue rivers. Near Lokoja iron ore mines and one of the most powerful in the country modern metallurgy facilities are located(END/2009)


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