Federal Government Sign MoU with Russia Trade, Investment Ministry on Geoscience Cooperation

By October 28, 2019 Investment News

The federal government has signed a Memorandum of Understanding (MoU) with the Ministry of Trade and Investment of the Russian Federation for scientific and technical cooperation in the field of Geosciences between Nigeria and Russia was signed during the Russia- Africa summit.

Minister of Mines and Steel Development, Mr. Olamilekan Adegbite signed the MoU on behalf of government.

Present at the signing was Sergey Gorkov CEO and chairman of Russian State Geological Holding, ROSGEO, and Gerald Chilhota, representing the President of African Export-Import Bank

Adegbite stated that the purpose of the MOU was to express the commitment of the Parties to conduct activities in the fields of Geoscience on the basis of equality, reciprocity and mutual benefit.

A statement by the Minister’s Head of Media, Ayodeji Adeyemi, yesterday in Abuja, quoted him as saying that the MOU also spells out the forms of cooperation expected which include exchanges of scientific and technical information; exchange of study visits and scientists; collaboration on research activities; joint organisation of symposia, conferences workshops and training programs; and other forms of cooperation as may be mutually agreed between the Parties.

“The MOU also spells out areas of cooperation expected which include, Research and development on basic geology; Geological maps compilation and regional mineralization correlation; methodology and technology on geochemical mapping and remote sensing.”

Other areas of cooperation it noted, include Aero-geophysical Survey, Geo-database construction and geo-information sharing Marine geology, Research and monitoring of Geo-hazards; amongst others

The MOU which the minister signed on behalf of the Nigerian Geological Survey Agency, NGSA, of the Ministry of Mines and Steel development, also has the African Export-Import Bank as a party to it.

According to the statement, Adegbite, who was delighted with the MOU lauded President Buhari’s initiative to develop the nation’s mining sector. “President Buhari has given us so much support in the mining sector and it is now bearing fruits.”

Also, Dr. Abdulrazaq Garba, Director-General, NGSA praised the leadership of Adegbite in masterminding the agreement.

He stressed that the signing of the MOU is another dimension to the success that the ministry is achieving in international collaborations.


Source: ThisDayLive