The Russian Ambassador to Nigeria, Mr Alexander Polyakov, has expressed concern over the 300 million dollars volume of trade between the two countries.

Polyakov, who made the observation in an interview with newsmen in Abuja on Tuesday, blamed the development on the absence of a ‘framework’ that would promote trade and investment.

He noted that Nigeria was yet to ratify the agreement on the promotion of investment signed between the two countries three years ago, adding that the neglect of such an important framework could hamper trade.

Polyakov said that the lack of political will and support by both governments, were also among the reasons for the low volume of trade.

“Russia is still very cautious about investing in Nigeria, so you see, both nations lack the political will,’’ he said, adding that Russia produces oil and gas, and so did not need to import the commodities from Nigeria.

He, however, said that both countries had enjoyed very cordial relations over the past 50 years, with cooperation in education and other technical areas.

The ambassador said that many Nigerians had benefited from Russian training programmes and scholarship, and that Russia had a prison exchange agreement “which allows Nigerians, who violated its laws, to be repatriated’’.

“Today, there is no Nigerian serving jail term in any part of Russia.’’

Polyakov said that more than 5,000 Nigerians reside in Russia.

Russia held a reception to mark its 22nd National Day on June 11.