By Fortune Abang
The Minister of Foreign Affairs, Amb. Yusuf Tuggar has called for the revitalization of Nigeria-Brazil trade relations rooted in shared historical and cultural ties.
Tuggar disclosed this in a statement by Alkasim Abdulkadir, Special Assistant on Media and Communications Strategy to the minister.
He made the call against the backdrop of dialogue with high-net-worth investors and business leaders during the Brazil–Nigeria Business Roundtable in Rio de Janeiro.
The event was organized under the auspices of ApexBrasil, Brazil’s leading investment promotion agency, in collaboration with the Ministry of Foreign Affairs of Brazil and the Brazilian Development Bank (BNDES).
Tuggar stated that renewed economic engagement must leverage both countries’ comparative advantages with private enterprise innovation and robust governmental support as critical drivers.
He highlighted Nigeria’s reforms and the government’s commitment to de-risking investments, particularly through insurance mechanisms to reaffirm Nigeria’s readiness for strategic, long-term partnerships.
“Our countries share a legacy of cooperation. Now is the time to translate that legacy into tangible economic progress.
“Nigeria presents vast opportunities across energy, agriculture, aviation, and digital technology and stands open for business,” Tuggar said.
Tuggar quoted Marcelo Salum, Head of Investment Promotion at Brazil’s Ministry of Foreign Affairs (MRE), to have spoken on behalf of the ministry, saying Brazil values the role of Nigeria’s growing tech sector.
He identified the sector to include its unicorn companies and to promote opportunities for mutual benefit through initiatives such as the Green Imperative Project and expanded sugar and ethanol trade.
The event marks a significant step toward deepening Nigeria–Brazil economic ties, with both nations committing to building a resilient, innovative, and inclusive trade and investment partnership.
The roundtable featured key figures, including José Luis Gordon, Director of Productive Development, Innovation, and Foreign Trade at BNDES, and Raphael Cittadino, Executive Chief of Staff at ApexBrasil.
Also was Amb. 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, Petrobras and Embraer Brazilian companies.
