TODAY PRESIDENT OF NIGERIA TO MEET WITH RUSSIAN BUSINESSMEN








MOSCOW, MARCH 7, 2001 /FROM RIA NOVOSTI CORRESPONDENT YURI NIKOLAYEV/ -- President of Nigeria Olusegun Obasanjo is to meet today with Russian businessmen within the framework of his official visit.


	As RIA Novosti was told in the Ministry of Foreign Affairs of Russia, it is expected that the large group of Nigerian businessmen which arrived in the Russian capital together with the President of Nigeria will also participate in the meeting with the Russian business community.


	Moscow is not satisfied with the slack development of trade and economic relations between our countries. It is not fortuitous, therefore, that during the talks held the day before Russia and Nigeria focused on the economic problems and the search for effective ways to establish trade and economic relations.


	On Tuesday the heads of state of Russia and Nigeria declared to be for broadening trade and economic relations and stated that over the next five years the Russian-Nigerian goods turnover must be brought to the level of not less than 500 million dollars a year. It is opportune to say here that last year the goods turnover stood at about 50 million dollars.


	As RIA Novosti has learnt from informed sources, the participation of Tyazhpromexport in completing the construction, and in putting in operation of the iron and steel combine in the city of Ajaokuta (1.3 million tons of steel a year), the construction of which was started in Soviet time, is most likely to become a priority direction of cooperation. It is a purely commercial project, and the Russian government does not assume any obligations. About 465 million dollars will be needed for completing the construction. Tyazhpromexport is ready to carry out the works if the Nigerian side finances the project.


	RIA Novosti has also learnt from informed sources that the Russian companies Gazprom and LUKOIL have shown certain interest in joint projects on extraction and processing of energy resources. It is noteworthy that Nigeria figures among the world's top ten countries in the extraction of oil and gas.