United Bank for Africa Group Managing Director and Chief Executive Officer, Oliver Alawuba, has called for stronger trade and investment ties between Nigeria and Brazil as bilateral trade in goods reached approximately $2.4 billion in 2025.
Alawuba said the existing trade volume presents room for both countries to expand commercial activity, particularly through investment partnerships, technology transfer and greater cooperation between businesses.
He made the call on September 16, 2026, in Abuja during an event organised by the Embassy of the Federative Republic of Brazil in Nigeria to mark Brazil’s National Day. The Brandspur Banking News Desk reports that Alawuba identified agriculture, manufacturing, energy, technology and the creative industries as sectors with significant scope for closer collaboration.
The UBA chief pointed to the $1.1 billion Green Imperative Agricultural Mechanisation Programme as an example of how bilateral cooperation could generate practical economic benefits. The initiative combines Brazilian agricultural technology and equipment with Nigerian enterprise, with the potential to improve agricultural productivity, strengthen food security and create jobs.
For businesses, deeper cooperation could also open access to new markets and investment opportunities in both countries. Alawuba said the relationship between Nigeria and Brazil has foundations that extend beyond commerce, with historical links and shared cultural influences supporting closer connections.
He noted Brazil’s representation during Nigeria’s independence celebrations in 1960 and the continuing influence of Afro Brazilian culture in Nigeria as part of the long relationship between the two countries.
UBA is also positioning its international network to support increased cross border business activity. The bank operates across 20 African countries, alongside the United States, United Kingdom, United Arab Emirates and France, giving it a platform to support companies involved in trade and investment between Africa and Brazil.
According to Alawuba, the bank can use its geographical reach, knowledge of local markets and financial capabilities to facilitate transactions for companies looking to establish or expand commercial relationships across the two markets.
He also pointed to similarities between Nigerians and Brazilians, including entrepreneurial activity, cultural diversity, music and football, as factors that could encourage stronger business to business relationships.
With goods trade between the two countries estimated at $2.4 billion in 2025, Alawuba’s remarks highlight the potential for the relationship to move beyond established trade flows towards wider industrial cooperation and investment.
