The ministerial session of the Nigeria-Brazil bilateral meeting is underway in Brasilia with Brazilian Vice President Geraldo Alckmin and Nigeria’s Coordinating Minister of the Economy, Wale Edun, presiding.
Vice President Alckmin said the opportunities between both nations are “huge and must be tapped into,” stressing that beyond economic and political ties, “we share an inclusive vision of the new world.”
Edun noted that with a global withdrawal from funding, there was a need for stronger South-South cooperation.
“This is a time the global South must trade more with each other,” he said. According to him, Nigeria and Brazil must take advantage of the shifting global economic order, where rules-based economies are coming under new tariff regimes.
The minister highlighted the reforms of President Bola Tinubu, which, he said, had ushered in macroeconomic stability. He listed a more stable exchange rate and growing foreign reserves as signs of progress, adding that the private sector was now better positioned to seize fresh opportunities.
The bilateral talks form part of President Tinubu’s state visit to Brazil, which opened with a full military honours ceremony at the Planalto Palace.
