Brazil, Nigeria Sign Bilateral Agreements to Boost Trade and Cooperation

Brazilian President Luiz Inácio Lula da Silva and Nigerian President Bola Ahmed Tinubu have signed a series of bilateral agreements aimed at revitalizing trade and deepening diplomatic and economic cooperation between the two nations.
The signing took place at the Planalto Palace during President Tinubu’s state visit to Brazil marking a renewed effort to strengthen South-South ties amid shifting global economic dynamics.
Commitment to Free Trade
President Lula reaffirmed Brazil’s commitment to free trade, calling for stronger cooperation with Africa in response to what he described as a growing wave of protectionism and unilateralism in global markets.
“In a world increasingly closing its borders, Brazil seeks to open doors,” Lula said, emphasizing the strategic importance of Africa and Nigeria in particular as a key trade partner.
Trade Decline Sparks Concern
Lula highlighted a troubling decline in Brazil-Nigeria trade, which has dropped from $10 billion in 2014 to just $2 billion in 2024. Once Brazil’s fourth largest African trading partner, Nigeria’s role in Brazil’s foreign trade has diminished over the past decade.
President Tinubu echoed Lula’s sentiments, saying both nations must work together to reverse the downward trend and unlock their shared economic potential. The agreements are expected to cover areas such as agriculture, energy, technology transfer, education, and trade facilitation.
Africa-Brazil Partnership in Focus
The visit comes as Brazil renews its focus on engaging African nations, both economically and diplomatically. Lula, a long-time advocate for South-South cooperation, acknowledged the urgent need to support Africa’s development goals, citing historical ties and mutual economic interests.
The leaders are expected to issue a joint communique outlining next steps, including follow-up mechanisms to monitor implementation of the agreements.