Trade relationship between Nigeria and Brazil dates back to 18th century. Nigeria and Brazil enjoy warm cultural and trade relationship. Many Afro-Brazilians trace their roots to Nigeria.
Brazil is the largest country in Latin America and Nigeria is the most populous nation in Africa. Both countries are key players in the economies of their regions. Brazil is a leading political and economic power in Latin America. Nigeria is equally the leading political and economic power in West Africa.
Nigeria is the second largest trade partner of Brazil in Sub-Saharan Africa and 11th in the world. Brazil is the third largest importer of Nigerian crude oil after USA and India. Nigeria balance of trade with Brazil is very favourable.
BRAZIL’S KEY INDUSTRIES: Key industries are textiles, shoes, chemicals, cement, agriculture, motor vehicles and parts, other machineries and equipment. Major export products include aircraft, coffee, vehicles, soybean, sugar, rice, orange juice, iron ore, steel, textiles, footwear, electrical equipment, etc.
Brazil’s current account surpluses had continued to hit record levels, indicating that exports were growing strongly. Its income per head is now twelve times that of India and China. Nigeria has a great deal to learn and tap from Brazilian experience. So come on board, let’s take advantage.