The United Bank for Africa Plc's Group Managing Director, Oliver Alawuba, has urged Nigeria and Brazil to strengthen their trade and investment ties, citing opportunities in agriculture, manufacturing, energy, technology, and the creative industries. Alawuba made this call in Abuja during the celebration of Brazil's National Day, hosted by the Embassy of the Federative Republic of Brazil in Nigeria. He emphasized the longstanding relationship between both countries, which extends beyond diplomacy to their shared history and cultural heritage.
Alawuba congratulated the Government and people of Brazil, highlighting Brazil's representation at Nigeria's independence celebrations in 1960 as a cherished foundation of the relationship between the two countries. He also noted the enduring influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos Aguda communities, where Brazilian architectural, culinary, and cultural traditions continue to thrive. This shared heritage has created a strong connection between the people of both countries.
According to Alawuba, the shared entrepreneurial spirit, cultural diversity, love of music, and passion for football between Nigerians and Brazilians provide a strong foundation for expanding commercial ties. He pointed out that bilateral trade in goods between Nigeria and Brazil was approximately $2.4bn in 2025, stressing that there remained considerable room to deepen economic exchange and unlock new opportunities for businesses in both countries.
Alawuba cited the $1.1bn Green Imperative Agricultural Mechanisation Programme as an example of the opportunities that could emerge from combining Brazilian expertise and equipment with Nigerian enterprise to improve productivity, strengthen food security, and create jobs. This programme demonstrates the potential for collaboration between the two countries in key sectors such as agriculture.
The UBA boss highlighted the bank's pan-African reach, with a presence in 20 African countries, as well as the United States, United Kingdom, United Arab Emirates, and France. This positions the bank to support trade and investment between Africa and Brazil through its reach, local knowledge, and financial capabilities. UBA's extensive network can facilitate business opportunities between Nigeria and Brazil.
Alawuba appreciated the relationship between UBA and the Embassy of Brazil, built on confidence, trust, and mutual respect since 2019. He reaffirmed the bank's commitment to strengthening the partnership through focused service and closer collaboration. This relationship has been instrumental in promoting trade and investment between the two countries.
Alawuba commended the warmth of the Brazilian people, the richness of its culture, and the promise of its future, expressing optimism that the longstanding friendship between Nigeria and Brazil would translate into shared economic prosperity. The UBA boss's call for stronger trade ties is expected to further enhance the economic relationship between Nigeria and Brazil.
Key points
- UBA's Oliver Alawuba urges Nigeria and Brazil to strengthen trade and investment ties
- Bilateral trade in goods between Nigeria and Brazil was approximately $2.4bn in 2025
- The $1.1bn Green Imperative Agricultural Mechanisation Programme is an example of potential collaboration between Nigeria and Brazil
