The Vice President of Nigeria, Prof. Yemi Osinbajo has called on Russian farmers to invest in producing and exporting agricultural produce in the country to earn foreign exchange. Osinbajo implored Russian agric investors during the visit by the Russian delegation at the state house in Abuja.
According to Osinbajo, “We are just six hours away from Europe by air. Vegetables and Flour can be exported to Europe from here”.
The Vice President asserted that the availability of arable land in Nigeria has made the case for increase in agricultural productivity a realistic and profitable option.
“Oil prices have gone down tremendously and yet large amount of foreign exchange is used to purchase food abroad and we have large arable land for agriculture. It won’t make sense if we don’t use the land”, he stated.
Speaking further, Osinbajo highlighted the financial benefits to be accrued if Russian technology is deployed locally, adding that there are better opportunities for economic co-operation between both countries which should not be left untapped.
The delegation led by the Russian Minister of Agriculture, Alexander Tkachev, also agreed that Nigeria and Russia should deepen existing diplomatic relations most of all economically which he acknowledged, would be mutually beneficial to both countries.
Tkachev who doubles as the Co-Chair of the Nigeria-Russia Joint Commission affirmed that Nigeria –Russia trade volume as at the end of 2015, exceeded 300 million dollars. He also noted that there was capacity for improvement in the years ahead.