President Bola Ahmed Tinubu has assured Brazilian investors that Nigeria’s ongoing economic reforms are producing tangible results, claiming that there is “no more corruption” since he assumed office.
The assurance came during a meeting on Monday with ministers from both countries and members of the Brazil Business Group, where the President reiterated Nigeria’s readiness to enhance partnerships in technology transfer, food security, manufacturing, and renewable energy.
Describing Nigeria’s economy as a “vast, untapped market full of opportunities for Brazilian companies,” President Tinubu highlighted the potential for foreign investment across multiple sectors.
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He acknowledged that the reforms implemented by his administration were “initially painful, but today the result is blossoming. It’s getting clearer to the people. We have more money for the economy, and no more corruption.”
To illustrate the new transparency in Nigeria’s economic system, the President referenced the Central Bank of Nigeria, stating, “You don’t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses.”
Reflecting on his previous engagements in Brazil, President Tinubu stressed the importance of moving beyond symbolic relationships toward substantive economic cooperation. “We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises, but today we say that is the end of that,” he said.
According to presidential spokesperson Mr. Bayo Onanuga, the Nigerian leader attended a state luncheon at the Itamaraty Palace, where discussions focused on deepening economic collaboration, expanding trade, and fostering innovation-driven partnerships.
With the signing of new bilateral agreements, Nigeria and Brazil are expected to broaden their economic cooperation, creating fresh opportunities for sustainable growth and technology exchange.
