The inauguration of Nigeria's new president should help build more robust relations between Abuja and Moscow, Ologbese told Sputnik Africa.
"Russia-Nigeria relationship has been built over years with respect to trade and investment, that would not change, rather with the new administration we are going to make the bond stronger and favorable to our foreign investors," the official noted.
The Nigerian politician referred to the Economic Complexity Index, assessing the measures of the relative knowledge intensity of an economy, according to which both countries are among the top 55 (Russia ranks 40th based on research publication data, 45th based on trade data; Nigeria is 54th in the ranking based on research publication data, 126th in terms of trade data).
"With this we will explore new avenues to boost the bilateral trade as well as improve on the old ones in relation to our government fiscal policies," Ologbese underlined.
According to the politician, the trade turnover between the countries is mainly represented by refined petroleum products, wheat as well as other commodities.
Moreover, the bilateral trade can be expanded as part of promoting a multipolar global architecture, as it "opens up windows of investment and economic development," the Nigerian official summarized.
On Wednesday, the Russian Foreign Ministry issued a statement saying that Russia looks forward to further strengthening friendly relations with Nigeria in the fields of politics, trade and investment.
On March 1, the Independent National Electoral Commission of Nigeria pronounced the All Progressives Congress candidate, Bola Ahmed Tinubu, the winner of the February 25 presidential election with 8,794,726 votes (36%). To be elected in the first round, a candidate must receive a plurality of the national vote and over 25% of the vote in at least 24 of the 36 states and the Federal Capital Territory, which Tinubu successfully managed.