President Bola Ahmed Tinubu is on a two-day state visit to Brazil on invitation of President Luiz Inácio Lula da Silva to deepen bilateral trade relations with focus on strengthening economic cooperation, particularly in aviation, agriculture and livestock development between the two countries.
The Nigerian government asserted that one of the significant agreements will restore direct flights between Rio de Janeiro and Lagos, facilitated by Brazil’s national carrier, Varig Air, alongside Nigerian airlines Air Peace and Caverton.
Minister for Aviation, Festus Keyamo, will sign the agreement on behalf of Nigeria during the summit.
In addition to aviation, both leaders are keen to address the agricultural sector, which is seen as a key area of growth.
The Green Imperative Partnership (GIP) is a major outcome of this collaboration, aimed at enhancing mechanisation in Nigerian farming.
“The GIP is a US$1.1 billion initiative that will supply 10,000 tractors and 50,000 pieces of equipment, all to be assembled locally in Nigeria,” said Tinubu.
He further noted that the project is expected to generate over 100,000 direct jobs and millions of indirect jobs, thereby transforming Nigeria’s agricultural landscape.
Special Adviser to President Tinubu, Sunday Dare, elaborated on the importance of the Green Imperative Partnership, stating that “this programme will not only advance agricultural mechanisation but also significantly improve food security in Nigeria.”
He highlighted that this agreement is part of a strategy to address shared challenges, including food security, climate change, and technological development.
According to Dare, the partnership is a “clear demonstration of the growing cooperation between the two nations, both leaders of the Global South.”
The Nigerian president also pointed out that Brazil’s involvement goes beyond just mechanisation.
“We are looking to leverage Brazil’s expertise in livestock farming to improve Nigeria’s livestock sector,” Tinubu said.
He went on to explain that the establishment of the Ministry of Livestock Development was designed to boost Nigeria’s capacity to meet its growing demand for animal products.
“This collaboration with Brazil will bring vital investment into Nigeria’s livestock industry, supporting long-term economic growth,” he noted.
Trade between Nigeria and Brazil has experienced fluctuations in recent years. According to the Nigerian government, trade fell from US$9 billion a decade ago to US$1.6 billion in 2023.
However, Tinubu remains optimistic about the potential for future growth.
He stated, “While the trade figures have contracted, sectors like agriculture and agro-processing are increasingly bridging the gap between our economies.”
He also highlighted that Nigeria’s non-oil exports to Brazil had risen, with US$0.62 billion worth of non-oil goods sent to Brazil in October 2024 alone.
Looking ahead, both countries have set ambitious goals to increase trade.
“We are determined to push bilateral trade above US$2 billion and aim for US$3.5 billion by 2030,” Tinubu said.
He pointed out that the restoration of direct flights between the two countries, facilitated by the BASA agreement, would open new avenues for trade, tourism, and investment.
“This agreement will dramatically improve connectivity, lower costs, and unlock new flows of trade,” Tinubu added.
Sunday Dare also noted that the partnership would bring long-term benefits to both nations.
“With Brazil’s advanced agricultural mechanisation and Nigeria’s vast arable land, the potential for collaboration is immense,” he said.
