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President Vladimir Putin and Nigerian President Olusegun Obasanjo first negotiated face to face and were subsequently joined by their respective national delegations.

Russian-Nigerian consultations focused on future bilateral trade, economic, military-technical, scientific, space and cultural cooperation, as well as relevant international issues.

The Russian President set the ambitious task of swelling the bilateral trade turnover to $500 million a year.

The Declaration “On the Principles of Friendly Relations and Partnership Between the Russian Federation and the Federal Republic of Nigeria” was signed after the talks.

A joint news conference involving both leaders was also held. In his statement to the press, the Russian President said the UN must preserve its status as a leading international organisation responsible for maintaining global peace and security, and that its activity must match present-day geopolitical realities.

Mr Putin said Russia was interested in jointly developing and producing mineral and energy resources, and confirmed Moscow’s readiness to help complete the Nigerian metallurgical integrated works.