Nigeria-Brazil trade volume exceeds $1.6 billion as Tinubu and Lula da Silva hold discussions

As the African Union meeting progresses, President Bola Tinubu and Brazilian President Luiz Inácio Lula da Silva met in Addis Abeba, Ethiopia, on Sunday.

Ajuri Ngelale, Special Adviser to President Tinubu on Media and Publicity, described their conversations as successful, particularly because they focused on comprehensively improving bilateral ties in all domains.

The Brazilian President stated that Nigeria and Brazil once had a trade volume of more than $10 billion, which has now dropped to $1.6 billion, underscoring his determination to enhance bilateral relations.

But, in order to entice his colleague to invest in Nigeria, Tinubu stressed the nation’s economic potential and influence, claiming that, despite some short-term reform difficulties, the country is taking a step ahead as his administration removes all business obstacles.

He went on to explain that his administration is investing in important sectors of the economy including as healthcare, education, and agriculture to secure the well-being of all Nigerians and to generate long-term economic success for future generations.

 “We have a very vibrant population of young Nigerians who are trainable, dependable, and should be empowered. The economic potential of Nigeria is enormous. We are ready to break all the walls standing in our way to progress.

“We are ready to fight corruption from top to bottom. We are ready to invest in critical sectors like healthcare, agriculture, education, infrastructure, and others. I have one of the most dedicated teams on agriculture,” he said.

President Lula da Silva compared Nigeria’s natural and human resource abundance to Brazil’s, saying Africa’s greatest economy and South America’s largest economy share a long and exciting history together.

Lula da Silva said, “I am back to try to restore; to reclaim our good relations with Nigeria. I can not imagine that a country of 216 million people and another of 213 million people do not have strong relations.

“Mr. President, I am 78 years old. You are 71. What keeps me energetic is that I fight for a cause. The cause of my nation and people. A great cause is the elixir of sustained vitality for experienced leaders.

“Nigeria and Brazil need stronger relations from the academic viewpoint; from the cultural viewpoint; from the commercial viewpoint; from the agricultural viewpoint; from the industrial relations viewpoint, and from trade relations viewpoint.

“It is meaningless that there are no direct flights from Lagos to Sao Paulo and vice versa. I can not understand that. We have to sit at a table and find a solution for that. In aviation, there are many areas of potential collaboration with our manufacturers who seek to have a greater presence in Africa.

“I only have three more years left of my term, Your Excellency, to do everything I have not done yet. The time is very short. I am in a hurry to make my contributions to improve these relations with Nigeria. To make this happen, we have to put our ministers to work,” he said.

President Tinubu responded, saying Nigeria is eager to enhance ties with Brazil, stressing that “legacy of what can be done together to change the future for countless millions of our citizens”.

“We are stopping at nothing to remove all encumbrances to business. Red tape is being shredded around us. There is nothing we will not do to manifest the great potential of our nation. We are fighting corruption from the bottom to the top. We will prevent it, and we will remediate.

“We are very aware of your progressive legacies of social security provision, infrastructure, and reforms in Petrobras. We are in the process of implementing similar reforms in the NNPCL. We are focusing on investment in new production and new energy sources. We are investing in research, and we are removing obstacles to further partnerships in all areas of operation. There is opportunity for both companies in partnership,” the President said.

While citing solid mineral development, agriculture, education, and healthcare as areas of immediate concern, President Tinubu underscored that the two leaders’ commitment to collaboration is robust.

 “I agree that our countries must now have direct air links. I will form a committee of cabinet members who will work directly with your cabinet ministers, and they will urgently form a joint plan of action for the benefit of our two great countries. We may have missed opportunities in the past, but we now look ahead.

“Brazil and Nigeria share similarities. Let us forget old mistakes. The phenomenal growth achieved by Brazil in agriculture is exemplary. We will work with you to mechanize our food production systems to enhance quality and quantity of output. I will work with you to re-energize Nigeria’s relations with Brazil across the board,” the President stated.

The leaders of Africa’s and South America’s greatest democracies, respectively, agreed to work out the details for President Tinubu’s state visit to Brazil after President Lula da Silva issued an invitation to the Nigerian leader, which he gladly accepted.