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Nigeria, Russia sign nuclear energy deal
October 31, 2017, 9:53 am

Nigerian President Buhari has made sustainable energy production – particularly nuclear energ – a central goal of his administration [Xinhua]

Russia and Nigeria, two of the world’s major emerging markets, have signed a nuclear research and cooperation agreement on Tuesday.

Russia’s Rosatom official nuclear corporation said that the agreement was signed on the sidelines of the International Ministerial Conference on Nuclear Power in the 21st Century, held in Abu Dhabi, UAE.

The conference is held under the auspices of the International Atomic Energy Agency (IAEA).

Anton Moskvin, vice president of the marketing and business development department of Rusatom Overseas, said “The development of nuclear technologies will allow Nigeria to strengthen its position as one of the leading countries of the African continent”.

Nigeria has been holding talks with Rusatom for the past two years to look at feasibility studies for the construction of four nuclear power plants at a cost of about $20 billion.

While Nigeria is a major oil exporter, it lacks proper infrastructure to delivery electricity generated by its largest current power plant Egbin.

A number of countries, even those who have vast oil and gas reserves, are looking to nuclear power generation as a strategic necessity in the near future, particularly in light of global warming and climate change.

Rusatom is currently constructing a 4,800 megawatt nuclear power plant in El Dabaa, Egypt. Russia is providing loans for the $25 billion project.

Rusatom sees a lucrative market in the emerging Middle East market. It recently opened an office in the UAE and is helping its government dispose of industrial waste.

Just three weeks ago, Saudi Arabia signed an agreement in Moscow with Rusatom for the Programme for Cooperation in the Peaceful Uses of Nuclear Energy.

The BRICS Post with inputs from Agencies

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