Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, is targeting expanded economic partnerships with Brazil through key sector investments.
He expressed this when addressed a gathering of high-net-worth investors and business leaders at a Brazil–Nigeria Business Roundtable held 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).
A statement by his Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir on Tuesday said that the roundtable featured key figures including José Luis Pinho Leite Gordon, Director of Productive Development, Innovation, and Foreign Trade at BNDES; Raphael Cittadino, Executive Chief of Staff at ApexBrasil; and Marcelo Salum, Head of Investment Promotion at Brazil’s Ministry of Foreign Affairs (MRE).
Notable Brazilian companies like Petrobras and Embraer were also in attendance.
Ambassador Tuggar during the event called for the revitalization of Nigeria-Brazil trade relations, rooted in shared historical and cultural ties.
He emphasized that renewed economic engagement must leverage both countries’ comparative advantages, with private enterprise innovation and robust governmental support as critical drivers.
Highlighting Nigeria’s reforms and the government’s commitment to de-risking investments particularly through insurance mechanisms he reaffirmed 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," the minister stressed.
Speaking on behalf of Brazil’s Ministry of Foreign Affairs, Marcelo Salum; "Nigeria presents vast opportunities across energy, agriculture, aviation, and digital technology, and stands open for business."
He noted that Brazil values the role of Nigeria’s growing tech sector including its unicorn companies and sees opportunities for mutual benefit through initiatives such as the Green Imperative Project and expanded sugar and ethanol trade.
Also participating were Ambassador 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.
The event marks a significant step toward deepening Nigeria–Brazil economic ties, with both nations reaffirming their commitment to building a resilient, innovative, and inclusive trade and investment partnership.