Nigeria calls for Russian investment and national-currency trade
By the AFREEQUE newsroom, based on Vanguard
Nigerian Foreign Minister Sola Enikanolaiye called on Russian investors to fund sectors including energy, agriculture and industry, and advocated trade settlements in national currencies. At the third Russia-Africa summit in Moscow, he called for political relations to translate into investment and economic partnerships, Vanguard reports.
Nigeria has called on Russia to invest in its energy, solid minerals, agriculture, manufacturing, pharmaceutical and digital sectors. Nigerian Minister of State for Foreign Affairs Sola Enikanolaiye also advocated mechanisms for settling trade in national currencies at the third Russia-Africa summit at the Grand Kremlin Palace, according to Vanguard.
Leading the Nigerian delegation, Enikanolaiye called for political relations between the two countries to lead to investment, technology transfers and development partnerships. He notably backed cross-border payment systems agreed between the two countries, as well as better banking channels to facilitate trade.
The minister also called for investment in infrastructure — railways, ports, energy, telecommunications and logistics — and greater cooperation in artificial intelligence, cybersecurity and research. Nigeria had already called for concrete economic results from its partnership with Russia in an announcement published on 30 October 2026.
