Home » Nigeria to revisit negotiations with Brazil
Banking Business Finance Headlines News Nigeria

Nigeria to revisit negotiations with Brazil

The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo says Nigeria will revisit pending bilateral investments agreement with the government of Brazil.

The Minister made this known in Abuja when he received a delegation from the Brazilian Embassy in Nigeria.

He told the delegation led by the Brazilian Ambassador Mr Ricardo Guerra de Araujo, and Mr Jackson Lima, Deputy Head of Mission, that Nigeria had a long history of bilateral relationship with Brazil.

He said the Federal Government was willing to spread Nigeria’s trade and investment tentacles across the world in line with the economic blueprint of the Buhari Administration.

Earlier, The Ambassador congratulated the Minister on his recent appointment and noted that the agreement which began in January 2016 under the Cooperation and Facilitation Investment Agreement would offer Nigeria loan facility to the tune of $1.1 billion.

He said the agreement covers areas like: Agriculture, Trade, Investment and Industrialization.

He explained that the initiative had the capacity to create 100,000 new jobs for the youths across various sectors.

According to the Ambassador Brazil had signed a similar agreement with countries like: Angola, Mozambique, Malawi, Morocco and Ethiopia, including United Arabic Emirate (UAE) which is the most recent.

Chimezie Victoria

%d bloggers like this: