Nigeria and Brazil witness a surge in trade volume to $1.6 billion during the AU Summit, marked by discussions between Tinubu and Lula da Silva

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As the ongoing African Union summit gains momentum, President Bola Tinubu and Brazilian President Luiz Inácio Lula da Silva convened in Addis Ababa, Ethiopia, on Sunday.

Ajuri Ngelale, Special Adviser to President Tinubu, highlighted the fruitful discussions, focusing on comprehensively strengthening bilateral ties across various fields.

President Lula da Silva noted the decline in trade volume between Nigeria and Brazil from over $10 billion to $1.6 billion and expressed his determination to fortify bilateral relations.

President Tinubu, underscoring Nigeria’s economic potential, emphasized ongoing reforms, removal of business obstacles, and investments in critical sectors like healthcare, education, and agriculture.

Lula da Silva, recognizing the shared history of Nigeria and Brazil, expressed his commitment to restore strong relations, citing the need for collaboration in academia, culture, commerce, agriculture, industry, and trade.

President Tinubu affirmed Nigeria’s readiness to deepen ties, addressing issues like red tape, corruption, and the implementation of reforms, highlighting parallels between the nations’ progressive legacies.

Both leaders agreed on the necessity of direct air links, forming committees for joint planning and expressing eagerness to capitalize on opportunities for partnership in various sectors.

President Tinubu acknowledged the similarities between Brazil and Nigeria, expressing a commitment to learn from Brazil’s agricultural success and collaborate on mechanizing food production.

The leaders, representing the largest democracies in Africa and South America, agreed to work out the modalities for President Tinubu’s state visit to Brazil, following an invitation extended by President Lula da Silva.

 

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