Dateline: Brasília
Bilateral and ministerial meetings are currently underway in Brasília, with Brazilian Vice President Geraldo Alckmin and Nigeria’s Coordinating Minister of the Economy and Minister of Finance, Wale Edun, co-chairing the high-level session.
Vice President Alckmin underscored the scale of opportunity between both nations, stressing that Nigeria and Brazil must look beyond traditional political and economic cooperation.
“We share an inclusive vision of the new world,” he said, noting that deeper collaboration is essential to unlocking the full potential of the partnership.
Minister Wale Edun emphasized the urgency of stronger South–South trade in the face of shifting global economic realities.
“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. We live in an era where a rules-based economy is now under a new tariff regime — this situation necessitates Nigeria and Brazil trading more with one another.”
He further highlighted the impact of President Bola Tinubu’s recent reforms, pointing to early signs of macroeconomic stability.
“Over the last year, we have seen President Tinubu unleash economic reforms that have stabilized the exchange rate and improved foreign reserves. This creates an environment where the private sector can take advantage of new opportunities,” Edun noted.
The ongoing meetings are part of President Tinubu’s two-day state visit to Brazil, aimed at strengthening cooperation in trade, agriculture, defence, and strategic dialogue between both countries.
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