The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has stressed the importance of revitalising trade relations between Nigeria and Brazil, citing the two countries’ deep historical and cultural ties.
This was contained in a statement issued by Alkasim Abdulkadir, the minister’s Special Assistant on Media and Communications Strategy.
Ambassador Tuggar made the call during a high-level engagement with investors and business leaders at the Brazil–Nigeria Business Roundtable held in Rio de Janeiro.
The roundtable was organised by ApexBrasil, Brazil’s leading investment promotion agency, in collaboration with the Brazilian Ministry of Foreign Affairs and the Brazilian Development Bank (BNDES).
Tuggar emphasised the need to reinvigorate bilateral economic cooperation by leveraging the comparative strengths of both nations. He noted that innovation from the private sector, supported by robust governmental frameworks, would be central to this effort.
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He highlighted Nigeria’s reform agenda and the government’s commitment to minimising investment risks through mechanisms such as insurance cover, demonstrating the country’s preparedness for sustainable partnerships.
“Our nations share a longstanding relationship. It is time we translate that legacy into tangible economic benefits,” Tuggar said.
“Nigeria is open for business across key sectors including energy, agriculture, aviation, and digital technology.”
He also referenced remarks by Marcelo Salum, Head of Investment Promotion at Brazil’s Ministry of Foreign Affairs, who commended Nigeria’s growing technology sector. Salum acknowledged the presence of Nigerian unicorn companies and pointed to initiatives such as the Green Imperative Project and increased trade in sugar and ethanol as areas of mutual benefit.
The roundtable marked a significant step in deepening Nigeria–Brazil economic relations, as both countries reiterated their commitment to building a resilient, inclusive, and innovation-driven trade and investment partnership.
Key participants included José Luis Gordon, Director of Productive Development, Innovation and Foreign Trade at BNDES; Raphael Cittadino, Executive Chief of Staff at ApexBrasil; 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, along with representatives from major Brazilian firms Petrobras and Embraer.
