…Tinubu on two-day visit
…A South-south synergy will generate investments, millions of jobs
BRAZIL: Between today and tomorrow, Nigeria and Brazil will sign crucial business agreements to create direct flights between the two countries and generate massive livestock investment inflow.
In other areas of agriculture, the Green Imperative Partnership (GIP), which kicks off after the visit, is to generate not less than 100,000 direct jobs and more than five million indirect jobs.
President Bola Ahmed Tinubu is on a two-day state visit to Brazil on invitation of President Luiz Inácio Lula da Silva to improve on their relationship in trade.
This is President Tinubu’s third visit, and the most important, to Brazil in the last one year.
His first visit was to attend the G-20 meeting, on November 18 and 19, 2024.
The second was as an observer at the BRICS Summit on July 6 and 7.
Brazil’s Vice President Geraldo Alckmin visited Nigeria in June and signed some agreements with Vice President Kashim Shettima.
Tinubu flew to Brasilia from Japan where he attended the Tokyo International Conference on African Development (TICAD).
On aviation, the agreement is expected to restore air flights between Rio de Janeiro and Lagos with Brazil national carrier Varig Air and two Nigerian airlines – Air Peace and Caverton.
Minister for Aviation and Aerospace Development Festus Keyamo will sign the agreement on behalf of Nigeria during the summit.
In the agriculture sector, an investment by Brazil in Nigeria’s vast and expansive livestock sub-sector will come on stream.
Livestock is critical to the agenda of President Tinubu.
To achieve this, he set up the Ministry of Livestock Development so the potential in the area will benefit Nigeria investors and the economy.
Also in agriculture, Brazil, which is a powerhouse, will make tractors available for farmers to boost food production in Nigeria.
Brazil, being the biggest economy in South America with cultural affiliation to Nigeria, is bidding for investment in Nigeria, with the biggest population, vast arable land and one of the biggest economies in Africa.
Special Adviser to the President on Media and Public Affairs Sunday Dare, reflecting on the President’s visit in an article, wrote: “Nigeria and Brazil have signed an economic cooperation with the launch of the Green Imperative Partnership (GIP), a US$1.1 billion initiative aimed at supplying 10,000 tractors and 50,000 pieces of equipment, to be assembled in Nigeria.
“This project is estimated to provide about 100,000 direct jobs and over five million indirect jobs. The programme is anticipated to advance agricultural mechanisation and food security in Nigeria. It is imperative to note that the Green Imperative Agreement was signed during the visit of the Brazilian Foreign Minister, Mauro Viera, in Abuja this year.
“Both (Brazil and Nigeria) are leaders of the Global South with converging aspirations in South–South cooperation.
Together, we face common challenges — and opportunities:
• Food Security: Brazil’s advanced mechanisation and Nigeria’s fertile land create a powerful synergy.
• Climate Change and Energy Transition: Both countries share vulnerabilities, requiring joint innovation in renewables and green finance.
• Global Trade Realignment: With uncertainties around U.S. AGOA renewal, BRICS-linked trade and currency channels are becoming vital.
• Technology and Youth Employment: Harnessing the digital economy is central to empowering their youthful populations.
“Trade between Nigeria and Brazil has experienced sharp swings in recent years. From a high of about US $9 billion a decade ago, bilateral trade fell to just US $1.6 billion in 2023, reflecting underutilised opportunities and shifting global dynamics.
“In 2024, the figure remained under US $2 billion, with Brazil exporting roughly US $970 million worth of goods such as machinery and poultry to Nigeria, while Nigeria’s exports to Brazil stood at about US $920 million, driven by oil, cocoa, urea, and sesame. Brazil’s total imports from Nigeria in 2024 were valued at US $1.17 billion, largely mineral fuels and fertilizers.
“Despite this contraction, the trade balance between the two economies remains relatively even, a sign of mutual complementarity rather than one-sided dependence. Nigeria’s non-oil exports are increasingly finding space in the Brazilian market — in October 2024 alone, Nigeria’s non-oil exports reached US $0.62 billion, with Brazil as the single largest destination, accounting for over 20 per cent of the total.
“This demonstrates that beyond hydrocarbons, sectors like agriculture and agro-processing are already serving as bridges between the two economies, with clear potential for scaling up.
“Looking ahead, both countries have set ambitious targets to revive and expand their trade partnership. At several fora, leaders pledged to push trade back above US $2 billion, with a longer-term goal of reaching US $3.5 billion by 2030.
In Oil and Gas, Brazilian giants, such as Petrobras and Embraer, are exploring investments in energy and aviation. The BASA Agreement for a direct flight route between our two countries is already on the table to be consummated , a move that would dramatically improve connectivity, lower costs, and unlock new flows of trade, tourism, and investment.
African Voice Magazine
