Nigeria and Brazil are taking new steps to revitalise their trade and investment relationship, building on centuries-old cultural and historical ties to unlock economic opportunities for both countries.
At the Brazil–Nigeria Business Roundtable held in Rio de Janeiro, Nigeria's minister of foreign affairs, Yusuf Tuggar, called for deeper economic engagement driven by private sector innovation and backed by enabling government policies.
Hosted by Brazil's investment promotion agency, ApexBrasil, in partnership with the Brazilian Ministry of Foreign Affairs and the Brazilian Development Bank (BNDES), the event drew top investors, business leaders, and policymakers committed to advancing a stronger bilateral partnership.
"Our nations have a history of partnership. It's time to turn that shared legacy into real economic gains," Tuggar said, adding that Nigeria is open for business in key sectors such as energy, agriculture, aviation, and digital technology.
Tuggar highlighted the government's ongoing reforms and investment risk reduction strategies—including insurance-backed incentives—as signals of Nigeria's readiness for long-term, mutually beneficial collaboration.
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Marcelo Salum, head of investment promotion at Brazil's foreign ministry, acknowledged the global impact of Nigeria's growing tech sector and expressed Brazil's interest in joint projects like the Green Imperative and expanded trade in sugar and ethanol.
Also in attendance were José Luis Gordon of BNDES, Raphael Cittadino of ApexBrasil, Ambassador Basil Okolo of Nigeria's embassy in Brazil, and Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC), who joined virtually. Representatives of leading Brazilian firms Petrobras and Embraer were also present.
The roundtable marked a renewed commitment to building a resilient, forward-looking trade partnership between Africa's largest economy and South America's biggest market.
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