Oliver Alawuba, Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, has called for stronger trade and investment relations between Nigeria and Brazil, identifying agriculture, manufacturing, energy, technology and the creative industries as key areas for deeper cooperation.
Alawuba made the call in Abuja on September 16, 2026, during an event organised to mark Brazil’s National Day and hosted by the Embassy of Brazil in Nigeria.
He said the relationship between Nigeria and Brazil extends beyond diplomatic ties, pointing to the countries’ shared history, cultural connections and longstanding relationship between their people.
Alawuba recalled Brazil’s representation at Nigeria’s independence celebrations in 1960, describing the gesture as an important foundation of the relationship between both countries.
He also highlighted the continuing influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos communities such as Aguda, where Brazilian architectural, culinary and cultural traditions remain visible.
According to Alawuba, similarities between Nigerians and Brazilians, including their entrepreneurial spirit, cultural diversity, love of music and passion for football, provide a strong basis for expanding commercial relations.
Bilateral trade in goods between Nigeria and Brazil was approximately $2.4 billion in 2025, but Alawuba said the figure showed that there was still significant room to expand economic activity between the two countries.
He pointed to agriculture as one area where greater cooperation could produce substantial benefits. The $1.1 billion Green Imperative Agricultural Mechanisation Programme, he said, demonstrates how Brazilian expertise and equipment can be combined with Nigerian businesses and resources to improve agricultural productivity, strengthen food security and create employment.
Alawuba also highlighted opportunities in manufacturing, energy, technology and the creative economy, saying increased cooperation across these sectors could create new avenues for businesses in both countries.
He said UBA’s presence across 20 African countries, as well as in the United States, United Kingdom, United Arab Emirates and France, gives the bank the reach and local knowledge needed to support companies seeking to trade and invest between Africa and Brazil.
Alawuba said UBA would leverage its financial capabilities and international network to facilitate commercial relationships between businesses in the two markets.
He also acknowledged the relationship between UBA and the Brazilian Embassy, which he said had been built on confidence, trust and mutual respect since 2019.
The UBA chief reaffirmed the bank’s commitment to strengthening the partnership through closer collaboration and financial services that can support businesses involved in Nigeria-Brazil trade and investment.
He also praised Brazil’s culture and people, expressing optimism that the longstanding relationship between the two countries could generate greater economic opportunities and shared prosperity.
The renewed push for stronger commercial ties comes as both countries explore ways to increase trade beyond existing levels and use their complementary strengths to create opportunities across agriculture, industry, energy, technology and other sectors.
