Energy, Agriculture, Tech: Tuggar Pushes for Brazilian Investment in Nigeria. Raymond Enoch.

In a renewed bid to deepen economic ties between Nigeria and Brazil, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has urged Brazilian investors and business leaders to seize emerging opportunities in Nigeria’s evolving economic landscape. Tuggar made the call while addressing a high-level Brazil–Nigeria Business Roundtable in Rio de Janeiro, emphasizing the vast investment potential Nigeria offers across key sectors.

The roundtable, hosted by ApexBrasil—Brazil’s leading investment promotion agency—in collaboration with the Brazilian Ministry of Foreign Affairs and the Brazilian Development Bank (BNDES), brought together top-tier stakeholders from both nations. Among them were José Luis Pinho Leite Gordon, Director of Productive Development at BNDES; Raphael Cittadino, Executive Chief of Staff at ApexBrasil; and Marcelo Salum, Head of Investment Promotion at Brazil’s Ministry of Foreign Affairs.

Heavyweights in Brazil’s corporate landscape, such as state-owned oil giant Petrobras and aerospace leader Embraer, were also in attendance.

Tuggar, speaking passionately about Nigeria’s readiness to engage, called for a revitalization of the long-standing yet underleveraged relationship between the two countries—one built on deep historical and cultural ties. “Our countries share a legacy of cooperation. Now is the time to translate that legacy into tangible economic progress,” he stated.

He emphasized the Nigerian government’s commitment to creating an enabling environment for investors, citing recent reforms and mechanisms aimed at de-risking investments. “Nigeria presents vast opportunities across energy, agriculture, aviation, and digital technology, and stands open for business,” Tuggar affirmed, urging the private sector to take the lead in forging long-term strategic partnerships supported by robust government policy.

Marcelo Salum, speaking for Brazil’s Ministry of Foreign Affairs, praised Nigeria’s dynamic tech ecosystem, referencing its growing number of unicorn startups. He highlighted areas for mutual growth including sugar and ethanol trade, as well as ongoing collaboration through initiatives like the Green Imperative Project—a key agricultural modernization scheme between both countries.

The event also featured virtual contributions from Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC), and the presence of Ambassador Basil Okolo, Chargé d’Affaires at the Nigerian Embassy in Brazil, who further reinforced the importance of sustained diplomatic and economic engagement.

The Brazil–Nigeria Business Roundtable is viewed as a pivotal step in repositioning bilateral trade and investment relations, with both nations signaling a clear intent to build a resilient, forward-looking economic partnership based on innovation, inclusivity, and sustainability.