Russia’s decision to invest in Nigeria is cheering – Princewill

…Says Buhari’s trip reaping benefits

A former governorship candidate of the defunct Action Congress of Nigeria (ACN) in Rivers State and chieftain of the All Progressives Congress (APC), Prince Tonye Princewill, has lauded the choice of Nigeria as preferred destination for investment by Russia.

President Muhammadu Buhari, in his recent trip to Sochi, Russia, signed some trade agreements with his Russia counterpart, Vladimir Putin, aimed at promoting Russia investment in Nigeria oil and gas sector, the steel industry, amongst others.

Speaking with newsmen in Abuja, Princewill, in his appraisal of the trip, said that apart from the military assistance that would surmount the scourge of insurgency and banditry, trade agreement would ultimately stimulate economic growth by addressing the menace of unemployment.

“Because, I am an optimist with an umbrella. But even in my constructive skepticism, I know that the seeds sown are beginning to germinate.

“I see a few reasons Nigerians should celebrate. The first reason is the number of jobs that the 13 takeaways will bring. I don’t have the numbers of direct or indirect jobs that will be created, but we can see that the total number of jobs created will be significant. To me, the issue of jobs is the most important takeaway.

“Our country is heading to number three in the world in population rankings. We already have a major problem in terms of unemployment and under employment as at today and it’s going to get a lot worse.

“In the North, the average house has seven children. In the South, it is three. A study shows that of the seven children in the North, if one gets to University, they are lucky.

“In the South, that number is two out of three. I don’t want to talk about the standard of learning, that’s a whole different matter. What the statistics tell us is we are breeding a crisis.

“The next leaders will soon be chosen by very angry youths. So, any news that addresses this should be given support by those who think beyond their nose,” he said.

According to him, another reason is the symbolism of it, saying for Russia to make this investment, it means Nigeria is now quite clearly a preferred destination for investment.