Trade volume between Nigeria and Russia stands at $250 million, the Russian Ambassador to Nigeria, Nikolay Udovichenko, has said.

He said though the figure is not so big in terms of statistics, the performance coud be lifted significantly.

The Ambassador, who spoke yesterday in Abuja at the Nigeria-Russia Business Forum titled: Nigeria-Russia Cooperation: New opportunities, pointed out that the idea of the business forum came from shared commitment to establish comprehensive and mutual beneficial ties between the two countries.

“In terms of statistics, it is not so big because it is a quarter of billion dollars, but with our effort, we can lift the performance significantly and I am sure we will be effective in this way,” he said.

He said efforts are on top gear to increase the volume of trade through economic cooperation that will become the backbone and dominant bridge.

He said Russia is interested in developing cooperation in the fields of investment, energy, trade and agriculture, among other.

Udovichenko said Russia is interested in developing cooperation in the fields of investment, energy, trade and agriculture, among other.

He also explained that the embassy’s initiative to invite Russian investors and business companies to Nigeria would bring positive result through lifting the bilateral trade and cooperation in economic, humanitarian, political and foreign technical cooperation fields.