Nigeria and Brazil have agreed to strengthen bilateral ties in all fields as both countries seek to promote mutual economic prosperity.
A statement released by Special Adviser to the Nigerian President on Media and Publicity Ajuri Ngelale, revealed Nigeria’s President Bola Tinubu and President Luiz Inácio Lula da Silva of Brazil met in Addis Ababa, Ethiopia, on Sunday, on the sidelines of the AU Summit.
Tinubu and Lula da Silva agreed their countries had missed mutually profitable business opportunities but must now look ahead.
"Nigeria and Brazil need stronger relations from the academic viewpoint; from the cultural viewpoint; from the commercial viewpoint; from the agricultural viewpoint; from the industrial relations viewpoint; and from trade relations viewpoint.
"It is meaningless that there are no direct flights from Lagos to Sao Paulo and vice versa. I cannot understand that. We have to sit at a table and find a solution for that,’’ said President Lula.
Boost trade volume
The Brazilian leader added that Nigeria and Brazil once had a trade volume of more than $10 billion in the past, which has now plummeted to $1.6 billion.
"I am back to try to restore; to reclaim our good relations with Nigeria. I cannot imagine that a country of 216 million people and another of 213 million people do not have strong relations'' he queried.
President Tinubu agreed with his counterpart, saying Nigeria will stop ‘’at nothing to remove all encumbrances to business.’’
"We have a very vibrant population of young Nigerians who are trainable, dependable, and should be empowered. The economic potential of Nigeria is enormous,’’ said Tinubu.
"Brazil and Nigeria share similarities. Let us forget old mistakes. The phenomenal growth achieved by Brazil in agriculture is exemplary. We will work with you to mechanise our food production systems to enhance quality and quantity of output.
''I will work with you to re-energise Nigeria's relations with Brazil across the board," added the Nigerian leader.
Struggling economy
Africa's biggest economy is hit by an economic crisis with decades high inflation of 28.92%.
The government says it is planning to set up a national commodity board to regulate the price of grains and other items, as rising food price bites hard on the populace.
President Bola Tinubu last May embarked on Nigeria's boldest reforms in decades by scrapping the fuel subsidy and devaluing the currency to try to revive economic growth.
But growth is yet to pick up while inflation has worsened.
Widespread kidnapping and banditry in farming areas has also pushed up food prices.
➤Click here to follow our WhatsApp channel for more stories.
