Nigeria Urges Russia to Turn Africa Partnership Into Investments, Backs Local Currency Payments

Nigeria has called on Russia to translate its longstanding relationship with Africa into tangible economic benefits, urging Russian investors to explore opportunities in Nigeria’s energy, agriculture, manufacturing, solid minerals and digital technology sectors.

The Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, made the call while delivering Nigeria’s national statement at the Third Russia-Africa Summit at the Grand Kremlin Palace in Moscow.

Enikanolaiye, who led Nigeria’s delegation, said the partnership between Russia and African countries must move beyond political commitments to deliver measurable economic outcomes.

He also advocated stronger financial cooperation between both sides, including improved banking channels and cross-border payment systems, to facilitate trade and investment.

The minister said Nigeria hoped to deepen the use of independent local currency settlement mechanisms with Russia through mutually agreed systems for cross-border transactions.

He stressed that governments alone could not drive the partnership, urging greater participation by private sector operators in Africa and Russia to unlock investment opportunities and strengthen commercial relations.

Enikanolaiye conveyed President Bola Tinubu’s greetings to Russian President Vladimir Putin and Burundi’s President Evariste Ndayishimiye, who chairs the African Union.

On infrastructure development, the minister called for Russian investment in commercially viable projects covering railways, ports, transport, energy, telecommunications and logistics.

He said priority should be given to projects capable of improving regional connectivity and advancing the objectives of the African Continental Free Trade Area (AfCFTA).

According to him, stronger infrastructure networks would help African countries expand intra-African trade, improve market access and increase the competitiveness of their economies.

The minister also identified energy, including renewable and nuclear technologies, solid minerals, agriculture, manufacturing, pharmaceuticals, defence and digital services as sectors offering significant investment opportunities in Nigeria.

He described Nigeria as Africa’s largest market and a strategic gateway to West Africa and the wider AfCFTA market, urging Russian businesses to take advantage of the country’s investment potential.

Nigeria Seeks Technology Transfer, Stronger Digital Cooperation

On digital development, Enikanolaiye said Africa must avoid becoming merely a consumer of technology in the emerging digital economy.

He called for stronger Russia-Africa cooperation in digital infrastructure, cybersecurity, artificial intelligence, software development and joint research.

The minister emphasised that such partnerships should prioritise technology transfer, skills development and the expansion of Africa’s capacity to develop and deploy its own technological solutions.

He maintained that building local expertise and productive capacity would enable African countries to participate more meaningfully in the global digital economy.

On agriculture and food security, Enikanolaiye said recent global disruptions had exposed vulnerabilities in food production systems and supply chains.

He called for partnerships that would strengthen domestic agricultural production, storage, processing, irrigation, mechanisation, fertiliser availability and agricultural research.

He also welcomed Russian cooperation in agricultural technology, fertiliser production and agro-processing, noting that Africa needed to produce more food, process more of its agricultural output locally and retain greater economic value within the continent.

Nigeria Calls for African-Led Security Cooperation

Addressing security concerns, the minister reaffirmed Nigeria’s commitment to strategic autonomy and the pursuit of peace and stability across Africa.

He identified terrorism, violent extremism, transnational organised crime, arms trafficking, piracy, cybercrime and instability in the Sahel and Gulf of Guinea as major threats to collective security and economic development.

He said tackling the challenges required sustained cooperation at regional and international levels, anchored on African ownership and African-led solutions.

According to him, external partnerships should strengthen rather than undermine existing African institutions, including the African Union and the Economic Community of West African States (ECOWAS).

Enikanolaiye also reiterated Nigeria’s commitment to sovereign equality, territorial integrity, non-interference in the internal affairs of states and the peaceful settlement of disputes.

He called for greater reliance on dialogue, diplomacy and international law in addressing global disagreements.

The minister further renewed Nigeria’s support for reforms of the United Nations Security Council and the international financial architecture to ensure that Africa receives fair representation in global decision-making.

He also expressed support for a fair multipolar world order, opposing unilateral sanctions and what he described as the political manipulation of global trade rules.

Nigeria Backs 2027–2029 Africa-Russia Action Plan

Enikanolaiye said the success of the Third Russia-Africa Summit should be measured by the outcomes achieved after the meeting rather than the commitments announced during its proceedings.

He therefore expressed Nigeria’s support for a focused and realistic Africa-Russia Action Plan for 2027–2029, with clearly defined priorities, financing arrangements and monitoring mechanisms.

He said the framework should provide a practical basis for implementing agreements, tracking progress and ensuring that commitments translate into concrete development outcomes.

The minister noted that the summit offered an opportunity to consolidate the longstanding relationship between Nigeria and Russia, which dates back to the Soviet era.

He described Russia as a longstanding partner whose historical support for Nigeria’s unity, sovereignty and territorial integrity remained an important part of bilateral relations.

According to him, stronger cooperation would enhance Nigeria’s capacity for independent development while contributing to regional stability and international cooperation.

Putin, Ndayishimiye Push Multipolar World Order

At the plenary session, Russian President Vladimir Putin described Russia and Africa as natural allies in efforts to build what he called a just multipolar world order.

Putin reaffirmed Russia’s commitment to sovereign equality, expanded diplomatic engagement, security cooperation to support internal stability and increased African representation in global institutions.

Co-chair of the summit and African Union Chairman, President Evariste Ndayishimiye, also stressed the need for African countries to pursue independent partnerships that serve the continent’s interests.

He said Africa would not exchange one form of subordination for another, emphasising the importance of partnerships that strengthen the continent’s economic independence and development capacity.

Ndayishimiye said the 2027–2029 Action Plan would help address infrastructure deficits through technology transfer and talent development, with the broader objective of transforming Africa from an aid recipient into an independent global actor.

He also identified water security as a major priority of the African Union’s 2026 agenda.

The Third Russia-Africa Summit is expected to provide a framework for expanding cooperation between Russia and African countries across trade, investment, infrastructure, security, agriculture and technology, with the proposed action plan serving as a key mechanism for translating political commitments into practical results.