The two presidents further agreed to put Nigeria-Russia relations on a fast track.
This was made known yesterday, by the President’s Senior Special Assistant on Media and Publicity, Mallam Garba Shehu in a statement made available to newsmen.
He said both president reached the agreement at a bilateral meeting held on sidelines of ongoing Russia-Africa Summit, in Sochi, Russia, yesterday.
They agreed also to begin fresh infrastructural projects and also expand trade and investment, security and military cooperation.
The statement said both leaders, have resorted to working together to improve the efficiency of Nigeria’s oil sector, “which is the backbone of the economy.”
“The cooperation, in a way will see to the rehabilitation of epileptic oil refineries through the establishment of a framework for a joint venture between Nigerian National Petroleum Corporation (NNPC) and Russia-based leading oil company, Lukoil.’’
Shehu also disclosed that Nigeria and Russia also agreed to revive and solidify the venture between the NNPC and Russia’s gas giant, Gazprom for the development of Nigeria’s enormous gas potential and infrastructure.