- Trade, Jobs, Connectivity: Nigeria, Brazil Renew Economic Partnership
- Tinubu on two-day visit
- A South-south synergy will generate investments, millions of jobs
Nigeria and Brazil are set to sign major business agreements between today and tomorrow that will restore direct flights between the two countries and attract significant livestock investments into Nigeria.
Eko Hot Blog reports that as part of the agreements, the Green Imperative Partnership (GIP) will take off after the visit.
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The initiative, valued at $1.1 billion, is expected to provide 10,000 tractors and 50,000 pieces of equipment to be assembled in Nigeria.
It is projected to generate at least 100,000 direct jobs and more than five million indirect jobs, while boosting agricultural mechanisation and food security.
President Bola Ahmed Tinubu is currently on a two-day state visit to Brazil at the invitation of President Luiz Inácio Lula da Silva to strengthen trade and diplomatic ties.
This is Tinubu’s third visit to Brazil within a year, but considered the most significant. His earlier visits were to attend the G20 Summit in November 2024 and to participate as an observer at the BRICS Summit in July.
On aviation, the agreement will restore direct flights between Rio de Janeiro and Lagos through Brazil’s national carrier, Varig Air, and two Nigerian airlines, Air Peace and Caverton.
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, will sign the agreement on behalf of the country.
In agriculture, Brazil is set to make fresh investments in Nigeria’s livestock sector, a priority under Tinubu’s administration following the creation of the Ministry of Livestock Development.
The partnership also includes the provision of tractors for Nigerian farmers to enhance productivity.
Brazil, the largest economy in South America with deep cultural ties to Nigeria, is positioning itself for expanded trade and investment in Africa’s biggest economy, which boasts vast arable land and a large population.
Reflecting on the visit, Special Adviser to the President on Media and Public Affairs, Sunday Dare, said the cooperation between both countries represents a “powerful synergy” for addressing food security, climate change, energy transition, and global trade realignment.
He noted that bilateral trade has dropped from $9 billion a decade ago to $1.6 billion in 2023 but stressed that new agreements are aimed at pushing trade above $2 billion in the near term and reaching $3.5 billion by 2030.
In oil, gas, and aviation, Brazilian firms such as Petrobras and Embraer are already exploring opportunities in Nigeria.
The Bilateral Air Service Agreement (BASA) for direct flights is expected to be concluded during the visit, a move that could boost connectivity, reduce costs, and unlock new opportunities for trade, tourism, and investment between the two countries.
