Governor Uba Sani of Kaduna State has expressed optimism that President Bola Tinubu’s state visit to Brazil could attract over $30 billion in investments across critical sectors of Nigeria’s economy.
Speaking to journalists in Brasília, Sani said the Memorandums of Understanding (MoUs) signed during the visit would have far-reaching effects, especially in agriculture, food security, 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,” Sani stated.
He also revealed that new agreements in diplomacy, innovation, and renewable energy were secured, describing them as crucial sectors previously overlooked but now prioritized under Tinubu’s leadership.
According to the governor, Nigeria’s status as Africa’s largest economy makes it an attractive partner for Brazil, especially as the South American nation seeks alternative markets amid trade tensions with the United States.
Sani attributed renewed investor confidence to Tinubu’s economic reforms, particularly in foreign exchange management.
“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 efforts of the Central Bank of Nigeria.
The governor urged Nigerians to support the administration’s economic agenda, stressing that the partnerships secured in Brazil would contribute significantly to long-term growth and national development.
