Nigeria Deepens Economic Ties with Brazil as Finance Minister Edun Courts Investors at BRICS Forum
In a strategic move to boost Nigeria’s international investment appeal, Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, led a high-profile delegation to the Ogun State Investment Forum held in Rio de Janeiro, Brazil. The forum, staged alongside the 17th BRICS Summit, was aimed at presenting Nigeria, particularly Ogun State—as a viable destination for foreign direct investment. The minister’s outreach to Brazilian investors highlighted the Federal Government’s drive to build an economy led by private sector innovation and investment-friendly reforms.
Minister Edun assured Brazilian business leaders of Nigeria’s ongoing macroeconomic reforms under President Bola Tinubu’s Renewed Hope Agenda. He emphasized the government’s commitment to public-private partnerships and transparent policies to attract long-term investment. He described Nigeria as being “open for business,” noting that macroeconomic stability is a key focus. Ogun State, due to its strategic location and pro-investment policies, was presented as an ideal starting point for international investors seeking growth opportunities in Africa.
The Investment Forum spotlighted Ogun State’s strengths in energy, agriculture, manufacturing, tech, and infrastructure. Its proximity to Lagos, robust infrastructure agenda, and dynamic workforce were cited as major advantages. By showcasing subnational entities like Ogun, the Federal Government aims to diversify the investment narrative beyond the national capital and empower states to independently attract global capital.
Beyond investment promotion, the event aimed to strengthen Nigeria’s bilateral economic relationship with Brazil—Latin America’s largest economy and a major BRICS player. Opportunities for trade expansion, technology exchange, and industrial collaboration between the two countries were key themes of the forum. Brazil’s status as a fellow Global South economy makes it a critical partner in Nigeria’s broader economic diplomacy agenda.
Nigeria’s active participation in the BRICS Summit and outreach to Brazilian firms highlight a deliberate strategy to embed the country in emerging global economic frameworks. As Nigeria deepens ties with influential nations like Brazil, it signals a shift toward sustainable growth powered by international cooperation, investor trust, and regional partnerships grounded in mutual benefit.
Source: The sun