Ayobamiji Komolafe 
The State Visit of President Bola Tinubu to Brazil entered a strategic phase on Monday with a high-level bilateral and ministerial meeting aimed at strengthening trade, economic cooperation, and multilateral partnerships between both nations.
The meeting, co-chaired by Brazilian Vice President Geraldo Alckmin and Nigeria’s Coordinating Minister of the Economy and Minister of Finance, Wale Edun, was held in Brasilia as part of President Tinubu’s official engagements with Brazilian leaders.
Vice President Alckmin emphasized Brazil’s commitment to deepening ties with Nigeria, stating that the opportunities between both nations are “huge and must be tapped into.”
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He further stressed that beyond economic and political collaboration, Nigeria and Brazil “share an inclusive vision of the new world.”
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun highlighted the need for stronger cooperation between countries of the Global South, citing the current decline in global funding and a shift toward protectionist policies:
“This is a time the Global South must trade more with each other. We live in an era where a rules-based economy is now under a new tariff regime. This situation necessitates Nigeria and Brazil trading more with one another.”
Edun noted that President Tinubu’s administration has implemented sweeping economic reforms that have stabilized the exchange rate, increased foreign reserves, and created a favorable climate for private sector investment:
“Over the last years we have seen President Tinubu unleash economic reforms that have brought about macroeconomic stability which the private sector can take advantage of,” he added.
The bilateral talks underscore Nigeria’s push to build stronger South-South economic alliances and diversify trade relations beyond traditional Western partners.
New Telegraph was earlier reported that President Tinubu on Monday met Brazilian President Luiz Inácio Lula da Silva for further discussions on deepening cooperation in agriculture, energy, culture, and trade.
