United Bank for Africa Plc (UBA) has urged for deeper trade and investment relations between Nigeria and Brazil, citing significant potential for growth. Oliver Alawuba, UBA's Group Managing Director and Chief Executive Officer, made the call during the celebration of Brazil's National Day in Abuja. The event was hosted by the Embassy of the Federative Republic of Brazil in Nigeria. Alawuba emphasized that the relationship between both countries extends beyond diplomatic ties.
Alawuba noted that bilateral trade in goods between Nigeria and Brazil reached approximately $2.4 billion in 2025. He argued that this figure highlights considerable scope for expanding economic exchange. Opportunities exist across various sectors, including agriculture, manufacturing, energy, technology, and the creative industries. Businesses in both countries can develop stronger commercial partnerships in these areas.
The UBA chief executive pointed to the $1.1 billion Green Imperative Agricultural Mechanisation Programme as an example of potential benefits from closer economic cooperation. This programme combines Brazilian agricultural technology and equipment with Nigerian enterprise. It aims to improve agricultural productivity, strengthen food security, and support job creation.
Alawuba also highlighted the cultural and people-to-people links between Nigeria and Brazil. He recalled Brazil's representation at Nigeria's independence celebrations in 1960, describing it as an important foundation of the relationship between the two countries. The influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos Aguda communities, remains visible.
UBA's pan-African footprint can facilitate greater commercial activity between Brazil and African markets. The bank operates in 20 African countries, as well as the United States, United Kingdom, United Arab Emirates, and France. This network enables UBA to support businesses involved in cross-border trade and investment.
Alawuba reaffirmed UBA's commitment to its relationship with the Brazilian Embassy. The partnership, built on confidence, trust, and mutual respect since 2019, will continue to strengthen through closer collaboration and focused financial services. UBA aims to connect Brazilian businesses with opportunities across Africa while supporting Nigerian companies seeking access to Brazil.
The longstanding relationship between Nigeria and Brazil can translate into greater economic opportunities and shared prosperity. Both countries seek to expand commercial cooperation beyond traditional diplomatic and cultural ties. With UBA's support, businesses in both nations can explore new opportunities and strengthen economic ties.
Key points
- UBA's Oliver Alawuba calls for stronger Nigeria-Brazil trade ties in agriculture, manufacturing, energy, technology, and creative industries.
- Bilateral trade between Nigeria and Brazil reached $2.4 billion in 2025.
- UBA's pan-African footprint can facilitate greater commercial activity between Brazil and African markets.
