Nigeria Ready to Eye Possibility of Trade With Russia in National Currencies, Ambassador Says
09:33 GMT 31.03.2022 (Updated: 14:20 GMT 15.11.2022)
© AP Photo / Sunday Alamba
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MOSCOW (Sputnik) - Nigeria is ready to consider the possibility of conducting trade with Russia in national currencies if necessary, Nigerian Ambassador to Moscow Abdullahi Shehu said.
"It depends. … The financial experts will work out the modality of how that will be done. … We will wait and see. We welcome them [negotiations on trading in rubles], we will negotiate," Shehu said when asked about the possibility of turning the trade between Russia and Nigeria into ruble.
Commenting on Moscow's decision to switch payment for gas sales with countries that have imposed sanctions on Russia to rubles, the ambassador said that it is dictated by Russia's national policy, and no one has the right to challenge it. The diplomat went on to say that the rejection of the dollar and the euro in the future can strengthen the ruble and make it a freely convertible currency.
When asked about prospects for EU countries to find a replacement for gas from Russia, Shenu said that Nigeria is ready to sell its gas to any countries where there will be a demand for it.
He added that the extraction of mineral resources is one of the areas where Nigeria and Russia can enhance their cooperation, emphasizing that apart from oil and gas, Nigeria has also coal, bauxite, columbite, and iron ore natural reserves.
28 March 2022, 13:55 GMT
Nigeria is also ready to replace Russian oil supplies as part of its quota under the OPEC+ deal if necessary, Shehu said.
"If there is a request, we are ready to supply within the OPEC quota that has been given to Nigeria. Nigeria will supply any country within its own limited quota in OPEC," Shehu said.
Nigeria is not interested in rising oil prices, so it is doing everything to maintain stability in the oil market, the diplomat added.
Last week, Russian President Vladimir Putin instructed the government and the national energy giant Gazprom to switch payment for gas sales with countries that have imposed sanctions on Russia to rubles by the end of March. European Commission President Ursula von der Leyen said the European Union was determined to stop its dependence on Russian gas, accusing Moscow of using energy as a political instrument.
"If there is a request, we are ready to supply within the OPEC quota that has been given to Nigeria. Nigeria will supply any country within its own limited quota in OPEC," Shehu said.
Nigeria is not interested in rising oil prices, so it is doing everything to maintain stability in the oil market, the diplomat added.
Last week, Russian President Vladimir Putin instructed the government and the national energy giant Gazprom to switch payment for gas sales with countries that have imposed sanctions on Russia to rubles by the end of March. European Commission President Ursula von der Leyen said the European Union was determined to stop its dependence on Russian gas, accusing Moscow of using energy as a political instrument.
