Kaduna Governor Hails $30 Billion Investment Opportunities from Tinubu’s Brazil State Visit
Kaduna State Governor Uba Sani has praised President Bola Tinubu’s recent state visit to Brazil as a transformative step for Nigeria’s economy, highlighting over $30 billion in expected investments. The investments are set to target key sectors including agriculture, food security, and aviation, offering renewed hope for economic growth and job creation across the country. Governor Sani described the visit as “one of the most important bilateral discussions and agreements signed since President Tinubu was elected.”
Reflecting on Nigeria-Brazil relations, Sani noted that previous opportunities worth $12 billion materialized only partially, with just $2 billion realized over 12 years. This visit, however, is backed by multiple newly signed agreements in diplomacy, science, technology, renewable energy, and aviation, creating optimism for substantial investment inflows. He emphasized that improved bilateral cooperation, coupled with Brazil’s growing interest despite U.S. tariffs, sets the stage for stronger economic engagement.
Governor Sani credited President Tinubu’s reforms, particularly the Central Bank of Nigeria’s $7 billion forex payment, as crucial for restoring investor confidence. “No serious investor would come to Nigeria and invest if he could not repatriate his profits,” Sani said. He also highlighted the removal of fuel subsidies and liberalized forex policies as critical enablers for foreign investment and broader economic participation.
Practical benefits of the agreements include improved aviation connectivity, allowing direct flights between Brazilian cities such as Brasilia, Sao Paulo, and Rio de Janeiro to Lagos or Abuja within seven and a half hours—dramatically reducing previous travel times. Kaduna State, where 60% of the workforce is employed in agriculture, stands to benefit directly from federal initiatives in livestock and agriculture development, enhancing job creation and productivity while aligning with the broader economic vision of President Tinubu.
The visit also produced several high-profile Memoranda of Understanding (MoUs) across multiple sectors. Agreements were signed in aviation, diplomacy, science, technology, innovation, and finance. Key deals included a Bilateral Air Services Agreement to boost trade and travel, diplomatic training cooperation, scientific collaboration in biotechnology and space research, and financial cooperation to expand agricultural financing and joint investments. These accords signal a deepened Nigeria-Brazil partnership poised to generate significant economic returns.
Source: The sun