Ask Nigeria Header Logo

Nigeria-Brazil trade volume exceeds $1.6bn

Photo of author

By Abraham Adekunle

Presidents of Nigeria, Brazil hold discussions at AU Summit.

Amidst the bustling activities of the ongoing African Union summit, a significant diplomatic meeting unfolded in Addis Ababa, Ethiopia, bringing together President Bola Tinubu of Nigeria and President Luiz Inácio Lula da Silva of Brazil. Ajuri Ngelale, the Special Adviser to President Tinubu on Media and Publicity, revealed that the discussions between the two leaders were marked by fruitful exchanges, particularly focusing on the comprehensive strengthening of bilateral ties across various domains. President Luiz Inácio Lula da Silva expressed his unwavering commitment to revitalizing the trade relations between Nigeria and Brazil, highlighting the noticeable decline in bilateral trade volume from over $10 billion to $1.6 billion in recent years.

Stressing the importance of reinvigorating bilateral trade, President Lula da Silva underscored his determination to fortify ties with Nigeria and explore opportunities for mutual economic growth and collaboration. In response, President Bola Tinubu reiterated Nigeria’s vast economic potential and the government’s proactive measures to create an enabling environment for businesses to flourish. He reaffirmed his administration’s unwavering commitment to dismantling barriers to investment and fostering sustainable economic development through strategic investments in critical sectors such as healthcare, education, and agriculture. Reflecting on the historical ties between Nigeria and Brazil, President Lula da Silva underscored the imperative of closer collaboration across various sectors, including academia, culture, commerce, agriculture, and industry.

Tinubu and Lula da Silva’s strengthening Nigeria-Brazil ties.

He emphasized the need to address logistical challenges, such as the absence of direct flights between Lagos and Sao Paulo, to facilitate greater connectivity and enhance trade relations between the two countries. President Tinubu echoed President Lula da Silva’s sentiments, reaffirming Nigeria’s readiness to deepen ties with Brazil across multiple fronts. He emphasized the importance of leveraging Brazil’s expertise in areas such as social security provision, infrastructure development, and energy reforms to propel Nigeria’s own economic transformation agenda. Identifying key areas of cooperation, President Tinubu highlighted solid mineral exploration, agriculture, education, and healthcare as priority areas for collaboration between Nigeria and Brazil. He expressed his commitment to establishing direct air links between the two countries and announced plans to form a joint committee to develop a comprehensive action plan for enhancing bilateral cooperation.

Both leaders expressed optimism about the prospects of strengthening ties between Nigeria and Brazil, with President Lula da Silva extending an invitation for President Tinubu to embark on a state visit to Brazil. President Tinubu graciously accepted the invitation, paving the way for further engagement and collaboration between the two largest democracies in Africa and South America. The discussions between President Tinubu and President Lula da Silva underscored the shared commitment of Nigeria and Brazil to deepening bilateral relations and exploring new avenues for cooperation. As the two leaders chart a course for closer collaboration, the stage is set for a new chapter in the longstanding partnership between Nigeria and Brazil, promising mutual benefits and opportunities for economic growth and prosperity.

Historical context to the ties and economic collaboration.

The historical context of Nigeria-Brazil relations dates back to the early 20th century when both countries established diplomatic ties. Over the years, the relationship has evolved, encompassing various sectors such as trade, education, culture, and diplomacy. In recent decades, trade between Nigeria and Brazil has experienced fluctuations, influenced by global economic trends, policy changes, and shifts in bilateral priorities. Despite the challenges, both countries have continued to explore avenues for enhancing trade and investment cooperation, recognizing the immense potential for economic collaboration. One of the focal points of the discussions between President Tinubu and President Lula da Silva was the trade volume between Nigeria and Brazil, which has witnessed a decline from over $10 billion to $1.6 billion in recent years.

This downward trend prompted both leaders to explore strategies for revitalizing bilateral trade and expanding economic cooperation. President Lula da Silva’s commitment to strengthening ties with Nigeria reflects Brazil’s recognition of Africa’s growing importance as a strategic partner in trade and investment. Brazil has increasingly sought to deepen its engagement with African countries, viewing the continent as a key market for its exports and a source of investment opportunities. For Nigeria, strengthening economic ties with Brazil presents an opportunity to diversify its trade relations and tap into Brazil’s expertise in various sectors. Brazil’s experience in agriculture, renewable energy, and infrastructure development aligns with Nigeria’s development priorities, making it an attractive partner for collaboration.

Related Article: $1.2bn agriculture loan from Brazil to FG

In addition to trade and investment, President Tinubu and President Lula da Silva discussed avenues for enhancing cooperation in other areas such as education, healthcare, and culture. Both countries recognize the importance of people-to-people exchanges and cultural diplomacy in fostering mutual understanding and strengthening bilateral relations. The issue of direct air links between Lagos and Sao Paulo emerged as a key priority during the discussions. Improving air connectivity would not only facilitate business travel and tourism but also enhance trade relations by reducing logistical barriers and transportation costs. As part of their commitment to deepening bilateral ties, President Tinubu and President Lula da Silva agreed to explore opportunities for joint initiatives and collaboration in various sectors. This includes the establishment of bilateral working groups and joint committees to oversee the implementation of agreed-upon initiatives and projects.

Related Link

Wikipedia: Website

The content on is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. There is data available online that lists details, facts and further information not listed in this post, please complete your own investigation into these matters and reach your own conclusion. accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website.

Fact Checking Tool -