By: Mercy Peter
Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has called for the revitalization of Nigeria-Brazil trade relations alongside comparative advantages, with private enterprise innovation and robust governmental support.
According to a statement by his media aide, Alkasim Abdulkadir, the minister made the call in Rio de Janeiro, Brazil while addressing a gathering of high-net-worth investors and business leaders at a Brazil–Nigeria Business Roundtable.
The event was organized under the auspices of ApexBrasil, Brazil’s leading investment promotion agency, in collaboration with the Ministry of Foreign Affairs of Brazil and the Brazilian Development Bank (BNDES).
The minister called for Nigeria-Brazil trade relations, rooted in shared historical and cultural ties.
He emphasized that renewed economic engagement must leverage both countries’ comparative advantages, with private enterprise innovation and robust governmental support as critical drivers.
Thebl statement reads” “Ambassador Tuggar during the event called for the revitalization of Nigeria-Brazil trade relations, rooted in shared historical and cultural ties.
“He emphasized that renewed economic engagement must leverage both countries’ comparative advantages, with private enterprise innovation and robust governmental support as critical drivers.
“Highlighting Nigeria’s reforms and the government’s commitment to de-risking investments particularly through insurance mechanisms he reaffirmed Nigeria’s readiness for strategic, long-term partnerships.
“Our countries share a legacy of cooperation. Now is the time to translate that legacy into tangible economic progress.
“Nigeria presents vast opportunities across energy, agriculture, aviation, and digital technology, and stands open for business.”
The statement also quoted Marcelo Salum, who spoke on behalf of Brazil’s Ministry of Foreign Affairs, echoed Tuggar’s sentiment.
He noted that Brazil values the role of Nigeria’s growing tech sector including its unicorn companies and sees opportunities for mutual benefit through initiatives such as the Green Imperative Project and expanded sugar and ethanol trade.
Those at attendance from Nigeria side include: Ambassador Basil Okolo, Chargé d’Affaires at the Nigerian Embassy in Brazil, and Ms. Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC), who joined virtually.
The event marks a significant step toward deepening Nigeria–Brazil economic ties, with both nations reaffirming their commitment to building a resilient, innovative, and inclusive trade and investment partnership.