The diplomatic relations between the countries date back to November 25, 1960. During the 1967-1970 armed conflict in Nigeria, the USSR provided political and military assistance to the Federal Government in its struggle against the self-proclaimed Republic of Biafra.

Nigeria got tanks, combat aircraft, helicopters, and AD systems from the USSR.

The countries still maintain an active political dialogue. In March 2001, President Olusegun Obasanjo of Nigeria arrived in Moscow with an official visit. Russia and Nigeria signed a Declaration on Principles of Friendly Relations and Partnership, which is generally an explicit program of bilateral and international cooperation.

The year of 1998 marked the establishment of a Nigerian-Russian Chamber of Commerce that combined around 160 companies.

In 1989, the partners signed an agreement giving birth to an Intergovernmental Commission on Economic, Scientific and Technical Cooperation that held its inaugural meeting in Moscow on December 7-8, 2004.

On February 20, 2007, Moscow hosted the signing ceremony of an Agreement on the Establishment of the Russian-Nigerian Business Council, as well as an Agreement between the Russian-Nigerian and Nigerian-Russian Business Councils on the Establishment of the Nigerian-Russian Center for Cooperation in Trade, Industry, Agriculture, Health, Engineering and IT.

On June 24, 2009, President Dmitry Medvedev of Russia set off on the first ever in the history of bilateral relations official visit to Nigeria. The negotiations resulted in approval of a package of crucial bilateral documents.

Not least important aspect of bilateral cooperation is education of Nigerian citizens in Russia.

Military and technical cooperation is governed by the Moscow Agreement of March 6, 2001. In this domain Russia already exported Mi-17 and Mi-24 helicopters to Nigeria. In 2016, Russia entered a contract with Nigeria for supply of another batch of Mi-type helicopters for the Nigerian AF.