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Profiles - Startup - October 22, 2019

250 Nigerian Businesses to Benefit from First-Ever Russia-Africa Economic Summit

About 250 Nigerian business owners and investors will participate in first-ever Russia-Africa Economic Summit, in Sochi, Russia.

The forum will bring together African and Russian business leaders and will hold between Oct. 23 and Oct. 25.

According to a report by the News Agency of Nigeria (NAN), President Muhammadu Buhari’s Senior Special Assistant on Media and Publicity Malam Garba Shehu, speaking in Abuja on Tuesday, explained the summit will enhance Russian investments in Africa, and promote African business interests in the host country.

“It is important that this meeting is taking place at this time. All the big economies are picking stronger interest in Africa.

“We now have US-Africa Summit, India-Africa Summit, China-Africa Summit and Japan-Africa Summit, so Russia has signified its interest for political, cultural and economic partnership.

“Nigeria has had an excellent relationship with Russia over the years. We will not forget how the country assisted us in keeping Nigeria as one during the civil war when some of our traditional allies deserted us,’’ he noted.

Shehu, also added that the three-day inaugural Russia-Africa Summit and Economic Forum would focus on peace, security and development, and hinted that the event will also look into issues surrounding sustainable energy, mines and steel, trade and investment, infrastructure development and nuclear energy.

The event will consist of four plenary sessions to be attended by more than 30 African Heads of State and governments. This will include the Chairman of the African Union and President of Arab Republic of Egypt Abdel Fattah el-Sisi.

The summit which will help draw up proposals for security framework driven by new technology will be co-chaired by Russian President, Vladimir Putin, and El-Sisi.of Egypt with a keynote address at the opening on Wednesday.

Buhari and Putin will meet at the Nigeria and Russian bilateral meeting on Oct. 23 while the Nigerian leader will make a statement at the summit on Oct. 24.

Other participants at the summit that will showcase Russian interest and investment potential in Africa include businessmen, experts, investors, leaders of major sub-regional associations and organisations.

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