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The Group Managing Director and Chief Executive of United Bank for Africa Plc, Oliver Alawuba, has called for stronger trade and investment relations between Nigeria and Brazil, highlighting opportunities across agriculture, manufacturing, energy, technology and the creative industries.
Alawuba made the call in Abuja during Brazil’s National Day celebration hosted by the Embassy of the Federative Republic of Brazil in Nigeria, according to a statement issued by the bank.
UBA highlights Nigeria-Brazil economic opportunities
While congratulating the Government and people of Brazil, Alawuba said the relationship between both countries extended beyond diplomatic ties to include shared history, cultural heritage and strong connections between their people.
He recalled Brazil’s representation at Nigeria’s independence celebrations in 1960, describing the gesture as an important foundation of the longstanding relationship between the two countries.
The UBA chief also highlighted the enduring influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos Aguda communities, where Brazilian architectural, culinary and cultural traditions remain evident.
According to Alawuba, the shared entrepreneurial spirit, cultural diversity, passion for music and love of football among Nigerians and Brazilians provide a strong foundation for expanding commercial and economic relations.
Bilateral trade still has room for growth
Alawuba noted that bilateral trade in goods between Nigeria and Brazil stood at approximately $2.4 billion in 2025, saying the figure showed significant scope for both countries to deepen economic exchange.
He identified agriculture, manufacturing, energy, technology and the creative economy as areas where stronger commercial cooperation could unlock opportunities for businesses in both markets.
The UBA chief pointed to the $1.1 billion Green Imperative Agricultural Mechanisation Programme as an example of the potential benefits of closer economic ties.
The programme, he said, demonstrated how Brazilian expertise and agricultural equipment could be combined with Nigerian enterprise to improve productivity, strengthen food security and support job creation.
UBA positions network to support Africa-Brazil trade
Alawuba also highlighted UBA’s pan-African footprint, noting that the bank operates in 20 African countries alongside its presence in the United States, United Kingdom, United Arab Emirates and France.
He said the network positioned UBA to facilitate trade and investment between Africa and Brazil by combining its geographic reach, local market knowledge and financial capabilities.
The bank’s cross-border presence, he added, could help businesses navigate different markets and strengthen commercial connections between African economies and Brazil.
Bank reaffirms partnership with Brazilian Embassy
Alawuba also acknowledged the relationship between UBA and the Embassy of Brazil, which he said had been built on confidence, trust and mutual respect since 2019.
He reaffirmed the bank’s commitment to strengthening the partnership through focused service delivery and closer collaboration, particularly as both countries seek to expand economic engagement.
The UBA chief further commended the warmth of the Brazilian people, the country’s cultural heritage and its economic potential.
He expressed optimism that the longstanding friendship between Nigeria and Brazil would continue to evolve into deeper commercial cooperation and shared economic prosperity.
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