Russia to triple grain and fertilizer exports to Nigeria over the next few years, trade official says

Addis Ababa, December 20, 2024 (FMC) – Russia has announced a plant to triple grain and fertilizer exports to Nigeria over the next few years, said trade official.

“I believe we will be able to significantly exceed last year’s figures for cereals and fertilizers, with some items expected to grow by up to three times,” Russia’s trade representative in Abuja Maxim Petrov told Russian media.

Russia aims to become a major player in the West African grain market and further strengthen its economic ties with Nigeria, potentially becoming one of its top five trading partners, the official said, given Nigeria’s membership of the ECOWAS group with a total population of 450 million.

“The Nigerian business community is open to interaction with Russian companies, as evidenced by the positive dynamics of trade turnover,” Petrov pointed out as quoted by Sputnik Africa.

Increased imports from Nigeria, including nuts, sesame, and spices, are also anticipated, according to the official.

Export growth targets not only Nigeria but also the wider West African market, with plans to develop logistics and processing infrastructure to support this expansion, he added.