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From Magnus Eze, Enugu
History was made in Abuja, the nation’s capital, on September 28, 2021, as the Nigeria-Russia Chamber of Commerce and Industry (NRCCI) was unveiled. The event, which took place at Transcorp Hilton, also featured the installation of a Russian-trained political economist and businessman, Dr. Obiora Okonkwo, as the pioneer president of the chamber.
Okonkwo, chairman, United Nigeria Airlines, had, a day earlier, led an August delegation from Russia on a courtesy visit to the Vice-President and chairman of the National Economic Council, Prof. Yemi Osinbajo, at the Presidential Villa, Abuja.
Minister of State for Mines and Steel Development, Dr. Uchechukwu Ogah, chaired the inauguration. He pledged Nigerian government’s support for the chamber.
Ogah, like Osinbajo, had expressed surprise that the Nigeria-Russia chamber of commerce was just coming on stream 61 years after the country’s independence. He, however, noted that it came at an auspicious time, given the need for the diversification of Nigeria’s economy.
The minister stated that Russia had the technology and resources to develop Nigeria’s steel and power sectors, beginning with the resuscitation of the Ajaokuta Steel Company in Kogi State. According to him, it was in that light that President Muhammadu Buhari, in October 2019, led a delegation to Russia, during the first Russia-Africa Economic Forum. He pointed out that the benefit of that visit was still incubating but added that the whole process would be catalyzed by the new chamber.
Ogah said: “Over the years, there has been need for a bridge between Nigeria and Russia. I am not surprised of what my brother, Obiora Okonkwo, can do. He will do the best of it.
“Nigeria has over 44 identified minerals of the future. The Russians have all the technology, they have the resources to make these things work.”
Former president of the Senate, Dr. Bukola Saraki, who performed the inauguration, demanded commitment from Russia, while pouring encomiums on Okonkwo for leading the way.
“I am surprised that this is just coming. I had thought that it was already there, but no time is late. We desperately need foreign direct investment. We have the market,” the former Kwara State governor said.
Also, president of the Nigeria Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), Chief John Udeagbala, was upbeat that NRCCI would boost trade relations between the two countries.
NACCIMA, he said, was looking forward to the second session of the Russia-Africa Economic Forum.
“You have very active people, very resilient. You have to work under the president of the chamber. He is a very active and hardworking person,” Udeagbala said.
In his address, president of the NRCCI, Okonkwo, said their aim was to study, promote, protect and extend industrial and commercial relations between individuals, firms, companies, corporations, institutions and associations of Nigeria and Russia, as well as provide Nigerian and Russian businesses with a forum for contacts, discussion of common interests, information, advice and collation of ideas for the improvement of economic and business interests.
He noted that the current trade volume between Nigeria and Russia stood at over $600 million, despite maintaining diplomatic relations for over five decades.
He said the Russian government was committed to the ideals and objectives of the chamber to the development course of Nigeria and good diplomatic relations between the countries. It was for that reason that two strategic officials, Mr. Andrei Albeshchenko, ambassador-at-large and head of the Association of Economic Cooperation with African States/head of Economic Department, and ambassador-at-large, Oleg Ozerov, an envoy of the Ministry of Foreign Affairs of the Russian Federation and head of the secretariat of Russia-Africa Partnership Forum, led the delegation.
The event, graced by major players in various sectors of the economy, witnessed the registration of members, counting no fewer than 200 persons.
Anambra as centerpiece of South East economy
Okonkwo, who is the candidate of Zenith Labour Party (ZLP) in the November 6 Anambra State governorship election, said the relationship with Russia would be a big boost to the economy of the South East.
He told Daily Sun: “My election as governor of Anambra State will in so many ways bring about a closer relationship with Russia. This is a relationship that will attract not less than $10 billion investment into Anambra State and, by extension, the entire South East states. We are looking beyond Anambra State. Anambra has been the centre of activities of commerce, industrialisation and production. It has been catering not only for South-East in those good old days but also the whole of Africa. Today, those things are in the past.
“But with the Russians, they are going to help us with our industrialisation project, transfer of technology, human capital development, huge investments in provision of infrastructure, electricity and even surface rail tracks. And with all these things going on, we are going to have urban renewal, we are going to get new towns, this is coming with huge infrastructural development, huge investment in estates at different levels, with things that require a lot of funding. These funds are not going to come from stipends Anambra State collects from Abuja every month as allocation or the very minute so-called internally generated revenue. It is going to come from very huge direct investment not only from Nigerians in diaspora but through a well-structured and developed relationship like this, of course. There are a lot of states who are already trying to catch up with this, now we have a good platform, Nigeria-Russia Chamber of Commerce and Industry; we think that it becomes a bridge, not only to reduce the gap between Nigeria and Russia, but also be a source of inflow into Anambra State.
“Today, Anambra people are in commerce, but it is also on record that a good number of them already diversified into industrialization, manufacturing and the digital industry. I think this is the dynamics of the situation and these are the issues at hand and this is the business of the moment. Anambra people are very competent.
“So, we think that if, eventually, I become governor and we have the right things in place, and then get the Russians onboard, we will build our economy. We will diversify from this pathetic income sources, which they are using now; we will, by extension, go in to integrate the South East economy with Anambra as the centre and as soon as that is done, our ultimate aim is to create a kind of an economic union in the old Eastern Region, which is now nine states, and we will get back the territory of Dr. M.I. Okpara, which you could recall in those good old days was the fastest growing economy in the world. So, that is our dream; that is our target. We are going to go into economic partnership with a lot of governors and governments in that area. There are still things Anambra State can export within those places and there are still things we need from those places. These are things we have to promote.
“That’s why we shudder, in this modern time and with this great region we have, some people talk about zoning, it is very parochial and it is very mundane. Yes, Anambra might just be my constituency, but my economic territory is targeting the old Eastern Region.”
Chairman, NACCIMA Finance and General Purpose Committee, Chukwuemeka Eze, told Daily Sun that members of the newly inaugurated Nigeria-Russia Chamber of Commerce and Industry would reap the integral benefits of chamber membership.
He listed some of them to include providing local and international business networking opportunities, referral for federal and state government agencies, promoting business diversification, providing business opportunities and trade leads, as well as creating global exposure for products and services through participation in international trade shows, exhibitions and seminars and providing access to travel visa procurement and trade delegations to foreign countries.
