Russia’s firms to invest $500m in Nigeria

Nine Russian firms have decided to invest $500 million in the Nigeria’s manufacturing sector.
The Nigerians in Diaspora Organisation (NIDO) said the group would work to improve investment inflow into Nigeria.
The Chairman of NIDO, Mr Sampson Uwem-Edimo, said: “No investment happens without trade; the trade volume between Nigeria and Russia today is around half a billion dollars; sometimes, it gets to a billion dollars.”
According him, it is a very small amount for this kind of business, and for Russia and Nigeria that have more than $3 trillion market.


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