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UBA Chief Executive Oliver Alawuba says Nigeria and Brazil can expand trade and investment across agriculture, manufacturing, energy, technology and the creative economy.
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Bilateral trade in goods between both countries reached about $2.4bn in 2025, highlighting significant room for further economic exchange.
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Alawuba pointed to the $1.1bn Green Imperative Agricultural Mechanisation Programme as an example of how bilateral cooperation could improve productivity and food security.
September 21, (THEWILL) – United Bank for Africa Plc has called for deeper trade and investment relations between Nigeria and Brazil, with the bank identifying agriculture, manufacturing, energy, technology and the creative industries as key areas for stronger commercial cooperation, PUNCH reports.
Oliver Alawuba, the Group Managing Director and Chief Executive Officer of UBA, made the call in Abuja during the celebration of Brazil’s National Day, hosted by the Embassy of the Federative Republic of Brazil in Nigeria.
Alawuba said the relationship between both countries extended beyond diplomatic ties, reflecting their shared history, cultural links and longstanding connections between their people.
He recalled Brazil’s representation at Nigeria’s independence celebrations in 1960, describing it as an important foundation of the relationship between the two countries.
The UBA chief also highlighted the influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos Aguda communities, where Brazilian architectural, culinary and cultural traditions remain visible.
$2.4bn Trade Offers Room For Expansion
Alawuba said the cultural and people-to-people links between Nigeria and Brazil could provide a stronger foundation for commercial cooperation.
He noted that bilateral trade in goods between both countries stood at approximately $2.4 billion in 2025, arguing that the figure showed there was considerable scope to expand economic exchange.
According to him, opportunities exist across agriculture, manufacturing, energy, technology and the creative industries, where businesses in both countries could develop stronger commercial partnerships.
He pointed to the $1.1 billion Green Imperative Agricultural Mechanisation Programme as an example of the potential benefits of closer economic cooperation.
The programme combines Brazilian agricultural technology and equipment with Nigerian enterprise, with the potential to improve agricultural productivity, strengthen food security and support job creation.
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Uba Positions For Nigeria-Brazil Trade
Alawuba said UBA’s pan-African footprint could also help facilitate greater commercial activity between Brazil and African markets.
The bank operates in 20 African countries, as well as the United States, United Kingdom, United Arab Emirates and France, giving it a network through which it can support businesses involved in cross-border trade and investment.
He said UBA’s reach, local market knowledge and financial capabilities could help connect Brazilian businesses with opportunities across Africa while supporting Nigerian companies seeking access to Brazil.
Alawuba also reaffirmed the bank’s commitment to its relationship with the Brazilian Embassy, noting that the partnership had been built on confidence, trust and mutual respect since 2019.
He said the bank would continue to strengthen the relationship through closer collaboration and focused financial services.
The UBA chief expressed optimism that the longstanding relationship between Nigeria and Brazil could translate into greater economic opportunities and shared prosperity, particularly as both countries seek to expand commercial cooperation beyond traditional diplomatic and cultural ties.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
