President Bola Ahmed Tinubu has reassured Brazilian investors that Nigeria’s economic reforms are producing tangible results, emphasizing that his administration has eradicated corruption in key sectors.
Speaking on Monday during a meeting with ministers from both nations and the Brazil Business Group, President Tinubu described Nigeria as a “vast, untapped market full of opportunities for Brazilian companies.”
He highlighted ongoing reforms in technology transfer, food security, manufacturing, and renewable energy, stressing that although the policies were “initially painful,” they are now delivering positive outcomes.
“It’s getting clearer to the people. We have more money for the economy, and no more corruption,” Tinubu said.
The President cited the Central Bank of Nigeria as an example of transparency reforms, noting that businesses now have open access to foreign exchange without favoritism.
Recalling his past visits to Brazil, Tinubu called for a shift from symbolic relations to actionable economic collaboration, stating:
“We have allowed problems in the past to hold us back. Today, we say that is the end of that.”
A statement from presidential spokesperson Bayo Onanuga confirmed that Tinubu attended a state luncheon at the Itamaraty Palace, where discussions focused on trade, innovation, and stronger bilateral ties.
The two nations are also set to sign new agreements aimed at boosting economic cooperation, encouraging sustainable development, and driving technological exchange.
