He said the relationship between the two countries was nowhere close to where it should be.
Saraki said the relationship between the two countries was nowhere close to where it should be, adding that there was need for improvement to increase trade volume.
The president of the senate made the remark in a meeting with Chairperson of Council of Russian Federation, Valentina Mativienko, St. Petersburg, Russia on Wednesday.
The meeting was on the sidelines of the 137th Inter-Parliamentary Union (IPU) Assembly.
Saraki said "I think we share a lot together and the two countries should be closer than what it is now.
"Nigeria has the largest population and political voice in Africa. Today, the Secretary General of OPEC is a Nigerian. Also, the Deputy Secretary General of the UN is a Nigerian.
"We are a country that is relevant in international politics and I think we need to improve trade volume with Russia."
The president of the senate, who said he used the opportunity of the IPU Assembly to strike a relationship with Russian Government, added that "I believe we can work together in the area of gas development.”
Earlier, the Russian chairperson told Saraki that Nigeria and Russia had some things in common.
She added that "One thing that was common to both countries was the fight against terrorism.
"We see Nigeria as a friendly country and our trade and mutual agreement for the last two years has grown.”