By Agency Reporter
Friday, 24 Dec 2010
THE Russian Ambassador to Nigeria, Mr. Alexander Polyakov, on Thursday, said the outcome of the 2011 elections would determine his government’s planned investment of $1bn in the Nigerian economy.
Polyakov told the News Agency of Nigeria in Lagos that only transparent, free and credible elections would create an investment and development-friendly environment in Nigeria.
“Between 2011 and 2015, Russia is negotiating $1bn investment in Nigeria in the areas of natural gas infrastructure and electricity plant development.
“But, we are still watching to see what becomes of the 2011 elections in the country, before we fully embark on investment in these areas,’’ he said.
The envoy said the outcome of the elections would also determine cooperation between both countries in energy, oil and gas, infrastructure and agriculture.
Polyakov expressed the hope that with an enabling business environment, Russia would move from its current aluminum-dominated investment to other areas.
The Envoy said many Russian entrepreneurs and investors would not invest in a country that would not observe true democracy.
He, therefore, urged Nigerians and the Independent National Electoral Commission to ensure the conduct of peaceful, smooth and credible elections.
Polyakov expressed Russia’s commitment to strengthening closer ties with Nigeria in 2011 and beyond.
“Russia and Nigeria have come a long way together. Last October, we both celebrated our fifty years of diplomatic relations, which we are hoping would be strengthened in the years ahead,’’ he said.
Source: Punch
