Tinubu’s Brazil Visit Could Unlock $30bn Investments – Gov. Uba Sani

 

Kaduna State Governor, Uba Sani, has said President Bola Tinubu’s state visit to Brazil has the potential to attract over $30 billion in fresh investments into Nigeria’s economy.

Speaking with journalists in Brasília, Sani disclosed that several Memorandums of Understanding (MoUs) were signed during the visit, targeting key sectors such as agriculture, aviation, and science and technology.

“We’re looking at more than 30 billion dollars in investments in agriculture, food security, aviation, and airspace collaboration between Nigeria and Brazil,” he said.

The governor also noted that new agreements in diplomacy, innovation, and renewable energy would further diversify Nigeria’s economy, describing them as sectors that had been largely neglected in the past but are now gaining attention under Tinubu’s leadership.

Sani observed that Brazil’s ongoing trade tensions with the United States presented Nigeria with a unique opportunity to emerge as a strategic partner, particularly as Africa’s largest economy.

He credited Tinubu’s recent economic reforms for rebuilding investor confidence, especially the decision to clear a $7 billion foreign exchange backlog.

“No investor wants to come in if they can’t repatriate their funds. Clearing the $7 billion forex backlog was critical,” he said, commending the Central Bank of Nigeria’s efforts.

Governor Sani urged Nigerians to support the administration’s economic agenda, stressing that the reforms were designed to deliver long-term growth and national development.