Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has called for a revitalized economic partnership between Nigeria and Brazil, as he addressed an influential gathering of investors, business leaders, and policymakers at the Brazil–Nigeria Business Roundtable held in Rio de Janeiro.
The high-level event, organized by ApexBrasil — Brazil’s top investment promotion agency — in collaboration with the Ministry of Foreign Affairs of Brazil and the Brazilian Development Bank (BNDES), aimed to strengthen bilateral trade, investment, and innovation-driven partnerships.
Key Stakeholders Advocate Stronger Nigeria–Brazil Trade Relations
Ambassador Tuggar, in his keynote remarks, underscored the importance of rebuilding Nigeria–Brazil trade relations based on deep-rooted historical and cultural connections. He emphasized the need for both nations to harness their comparative advantages, with a special focus on private-sector innovation and government-backed investment security frameworks.
“Our countries share a longstanding legacy of cooperation. Now is the time to translate that legacy into tangible economic progress,” Tuggar declared. “Nigeria offers vast opportunities across energy, agriculture, aviation, and digital technology — and we are open for business.”
Tuggar also highlighted Nigeria’s ongoing economic reforms and the government’s commitment to de-risking foreign investments through supportive insurance mechanisms and policy frameworks designed to attract strategic, long-term partners.
Brazilian Officials, Major Corporations Join Push for Economic Collaboration
The roundtable featured key Brazilian officials including José Luis Pinho Leite Gordon, Director of Productive Development, Innovation, and Foreign Trade at BNDES; Raphael Cittadino, Executive Chief of Staff at ApexBrasil; and Marcelo Salum, Head of Investment Promotion at Brazil’s Ministry of Foreign Affairs.
Prominent Brazilian corporations such as oil giant Petrobras and aircraft manufacturer Embraer were also in attendance, signaling strong corporate interest in expanding business with Africa’s largest economy.
Marcelo Salum reaffirmed Brazil’s interest in Nigeria’s rapidly growing technology sector, including its globally recognized unicorn startups. He pointed to collaborative opportunities in agribusiness, clean energy through the Green Imperative Project, and the expansion of sugar and ethanol trade.
Notable Participants and Future Outlook
The event also saw the participation of 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 to reaffirm Nigeria’s commitment to fostering investor confidence.
The Brazil–Nigeria Business Roundtable marks a significant step towards reinforcing bilateral economic ties, with both countries pledging to build a resilient, inclusive, and innovation-led trade and investment partnership.
