Revamp Ajaokuta Steel: Russia Set To Help Nigeria

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President, Nigeria-Russia Chamber of Commerce and Industry, Dr Obiora Okonkwo has expressed the readiness of the Russian Federation to assist the Federal Government in revamping the near-moribund Ajaokuta Steel Company, saying the onus was on Nigeria to take the first step.

Dr. Okonkwo disclosed this Monday in Abuja at a news conference to announce the inauguration of the Nigeria-Russia Chamber of Commerce and Industry.

He said; “Russia has made itself available to the Nigerian government that should they decide to bring back the original equipment manufacturer, they are ready to assist.

“Revamping Ajaokuta has a lot more to do with Nigeria and not Russia. It is more of our policy somersault and a whole lot of conflicting international interests

“Nigeria’s Ministry of Mines and Steel Development is in talks with the
Russian Ministry of Trade and Investments and they are willing to help Nigeria in that regard”.

Okonkwo recalled that an Russian-African summit had taken place in Sochi, Russia in 2019 as part of efforts to open up a new era of Africa-Russia relationship.

One of the deliverables from the summit, he said, is the inauguration of the chamber of commerce.

He said the inauguration of the chamber is the beginning of a new journey that will enable “Nigeria explore business relations with the Russian Federation which, we believe, will promote economic growth, technology transfer, development and also foster better understanding for both countries”.

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