Heritage Bank Managing Director/CEO Ifie Sekibo has called for stronger ties between Nigeria and Russia in technology and infrastructural development.
Sekibo, who made the call at the sidelines of the just-concluded Annual Meetings of the African Export-Import Bank (Afreximbank) in Moscow, Russia, said Africa and Nigeria in particular have a lot to learn from the Russian Federation.
He said Nigeria could leverage a stronger partnership with Russian to enhance development in the area of infrastructure, aviation, technology, solar, hydro-power and mining.
He said: “If we carefully listen to the Minister of Foreign Affairs of the Russian Federation, Sergey Lavrov, he said the Russian investment in Africa had increased over the years to almost $20 billion in 2018. This clearly showed that Africa and Nigeria especially need to key into these investments and get the best out of it,” adding that “what we are seeing in Russia today is a testimony that they are giants in several areas of development and Nigeria has a lot to learn and gain from them. Today Nigeria suffers from huge infrastructural deficit and a lot could be achieved from other countries of the world including Russia.”
Sekibo acknowledged that Russia is advanced in technology and in mining. He added: “I feel such cooperation with them will help Nigeria harness its mineral resources. We have huge mineral resources deposit in a lot of states in Nigeria and we can tap from the wealth of experience of Russia, either in training of geologists or mining practices.”
On the African Continental Free Trade Area Agreement (AfCFTA), Sekibo said it was important for Nigeria to join forces with other African countries on the agreement being the biggest economy in Africa.
His words: “Nigeria is seen as the Big Brother when it comes to the economy and African trade and we cannot shy away from such agreement. Such agreements give access to big markets and improved competitions among the member countries.
He added: “I feel strongly that Nigeria has a lot to gain if AfCFTA is signed. I also believe if it is properly leveraged on, it will do us better as a nation.”
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