Tinubu’s Brazil trip may unlock $30bn investment, says Sani

Gov. Uba Sani of Kaduna State says President Bola Tinubu’s state visit to Brazil could unlock over 30 billion dollars in investments across key sectors of Nigeria’s economy.

Speaking to journalists in Brasília, Sani said Memorandums of Understanding (MoUs) signed during the visit, particularly in agriculture, aviation, and science and technology, could significantly transform Nigeria’s economic landscape.

“We’re looking at more than 30 billion dollars in investments in agriculture, food security, aviation, and airspace collaboration between Nigeria and Brazil,” he said.

He also highlighted new agreements in diplomacy, innovation, and renewable energy, calling them crucial sectors previously overlooked but now receiving attention under Tinubu’s leadership.

Sani noted that Brazil’s trade tensions with the U.S. made Nigeria a strategic partner, given its position as Africa’s largest economy.

He credited Tinubu’s reforms, especially in foreign exchange, for restoring investor confidence.

“No investor wants to come in if they can’t repatriate their funds.

“Clearing the 7 billion dollars forex backlog was critical,” he said, applauding the Central Bank of Nigeria’s efforts.

Sani urged Nigerians to support the administration’s economic agenda aimed at long-term growth and national development.