Nigeria, Brazil strengthen South–South economic partnership in ministerial meeting
Nigeria and Brazil have intensified efforts to strengthen South–South economic cooperation during a high-level ministerial meeting held on the sidelines of President Bola Ahmed Tinubu’s state visit to Brazil. The session was co-chaired by Brazil’s Vice President, H.E. Geraldo Alckmin, and Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Vice President Alckmin highlighted the vast opportunities for collaboration, stressing that the partnership should extend beyond traditional trade and political ties. “The opportunities between Nigeria and Brazil are huge and must be tapped into. Beyond trade, we share an inclusive vision of the new world,” he said.
Speaking for Nigeria, Mr. Edun emphasised the importance of bolstering South–South trade amid shifting global economic dynamics. “There is a withdrawal from global funding; hence, there is a need for multilateral action. This is a time the Global South must trade more with each other,” he said.
Mr. Edun also pointed to the impact of President Tinubu’s economic reforms in Nigeria, noting that macroeconomic stability has been restored, stabilising exchange rates and steadily increasing foreign reserves.
“President Tinubu has embarked on economic reforms that have brought about macroeconomic stability that the private sector can take advantage of,” he added.
The Nigerian delegation included nine ministers, the Governor of the Central Bank of Nigeria, the Director-General of the Bank of Agriculture, and the Director-General of SMEDAN. Ministers in attendance represented Aviation; Trade and Investment; Livestock; Agriculture (State); Health (State); Information; Defence; Arts, Culture, Tourism and Creative Economy; and Education.
The ministerial meeting is part of the broader agenda of President Tinubu’s state visit, which seeks to translate historic ties between Nigeria and Brazil into tangible partnerships across agriculture, aviation, energy, trade, and cultural exchange.
Officials on both sides expressed optimism that the discussions would lead to actionable agreements benefiting both countries’ economies, particularly in trade diversification and investment.
