Presidency Justifies Tinubu’s Visit To Brazil, Says It’s a Strategic Move for Nation’s Economic Future 

Deji Elumoye in Abuja 

The Presidency  yesterday justified the two-day official visit of President Bola Tinubu to Brazil from 24 to 25 August, 2025.

Reacting to criticism trailing the state visit on a Television programme (TVC’s Sunday Politics) in Abuja on Sunday evening, presidential spokesperson, Sunday Dare described the state visit as a profoundly strategic step, aimed at deepening cooperation between Nigeria and Latin America’s largest economy and a key BRICS member.

According to the presidential media aide, the trip reflects Nigeria’s broader ambition to diversify and strengthen its economy beyond traditional alliances.

He explained why the visit is not only timely but essential for Nigeria’s growth.

His words: “This is the third visit of President Tinubu to Brazil, and it is with a justifiable cause. It reflects a renewed and focused effort to build lasting economic integration between our countries—a journey that started 21 years ago under President Obasanjo and has gained fresh momentum under President Tinubu.”

Dare highlighted compelling parallels between Nigeria and Brazil, noting their comparable population sizes—Brazil’s 212 million, and Nigeria’s 225 million—and Brazil’s distinguished position as a global leader in mechanised agriculture and renewable energy.

“Brazil has a cattle herd of 238 million, even more than its human population. This success in agribusiness offers valuable lessons for us as we expand our livestock industry.”

While previous presidential visits focused on international summits such as the G20 and BRICS, the Special Adviser clarified that this visit represents a decisive shift from diplomacy to concrete economic and political agreements.

According to him: “This third visit is a state visit, and it moves Nigeria from being a dialogue partner to actively cutting the necessary deals that will open up investments and strengthen cooperation. This visit is critical to opening the economic chapter of our relationship with Brazil.

“It’s about transforming historic and cultural ties into practical, mutually beneficial investments that will boost Nigeria’s growth and global standing.”

Asked about tangible outcomes from President Tinubu’s frequent foreign trips to attract foreign direct investment, Dare pointed to recent successes, including the launch of 10,000 tractors and over 25,000 farm implements in Abuja to support Nigerian farmers. 

He also spoke of $5 billion worth of assets received as foreign direct investment within two years of this administration. 

Dare noted that while it takes time for investments to fully materialize, “This is a government that has been in power for two years… We have seen several MOUs activated. These MOUs are live, and I can assure you that most activities tied to them will soon be onboarded for the benefit of our country.”

He added that Brazil represents one of Nigeria’s brightest opportunities due to parallels in agriculture, oil and gas, and youth development.

According to him: “We have similarities, both in opportunities and potentials… This union, I believe, will yield results for our country.”

On his part, Governor Uba Sani of Kaduna State, while also speaking on the programme, highlighted the significant benefits expected from the visit.

He emphasised that discussions will cover key sectors such as agriculture, renewable energy, skill development, aviation, and industrial investment.

Sani stressed that Kaduna State occupies a leadership position in agricultural development within Nigeria, noting that agriculture contributes about 42% of the state’s GDP and employs around 60% of the workforce.

Sani said his administration since assuming office on May 29, 2023 increased the agriculture budget from 0.5% to 12% to meet the Malabo Declaration targets and praised the relationship forged between President Tinubu and Brazil’s President Lula da Silva, based on mutual respect and shared opportunities, especially in agriculture.

He pointed out Brazil’s dominant role in global beef exports and Kaduna’s efforts in boosting agricultural production, including the establishment of special agro-industrial parks aimed at industrialising agriculture, creating jobs, reducing poverty, and increasing productivity.

Sani also credited President Tinubu with stabilising Nigeria’s economy, restoring investor confidence by addressing a $7 billion forex backlog, and creating reforms that open investment opportunities both for Nigerians and international investors.

He expressed optimism that the visit to Brazil will result in agreements in aviation, investment, agriculture, renewable energy, and other sectors.

Regarding mechanisation challenges in Kaduna’s agricultural sector, despite improved security that allows farmers to return to their fields, Sani acknowledged past difficulties but outlined significant progress: over the last two years, the state acquired about 400 tractors to support both large and smallholder farmers.

He said Kaduna is now leading in mechanisation in Nigeria, with investments in farm tools and support across various farming activities.

Recently, the government distributed over 400 bags of fertilizer to smallholder farmers for free.

Sani reiterated that agriculture remains the backbone of Kaduna’s economy, and the government is committed to investing heavily to strengthen this sector.

Dare and Sani further shared insights on Nigeria’s growing partnership with Brazil, especially regarding agriculture, job creation, and skills development.

Dare talked about a recently signed agreement between Nigeria and Brazil known as the Green Imperative Partnership (GIP), valued at about $1.1 billion. 

He explained that although the agreement was initially reached six years ago, it had remained dormant until President Tinubu revitalized it. 

The presidential aide stressed the political will behind this renewed effort, saying, “In two years, we have seen Nigeria’s economy diversified… The GDP has massive potentials for our country. It has the potential to create at least 100,000 direct jobs and 5 million indirect jobs.”

He also mentioned the potential for massive agri-mechanization through the introduction of 10,000 tractors and 50,000 farm implements, noting Brazil’s leading role as an agricultural powerhouse with over 238 million cattle.

Dare further underscored the significance of upcoming agreements, including one for direct flights between Nigeria and Brazil that will cut travel time to around eight hours, facilitating increased tourism, investment, and cultural exchange.

He said: “Where are the points in our history that we have a president who understands the dynamics of global economic power?… President Tinubu has started early enough looking to South-South cooperation. Looking to Brazil, that will have so many things in common, and I think it’s on the right track.

Governor Sani acknowledged the need for a cultural shift in Nigeria’s livestock sector, particularly moving from nomadic herding to ranching. 

He stated: “I agree 200% that we need to move from what we do normally or now to what happens globally.”

The governor explained that Kaduna State is actively engaging with Brazilian partners, focusing on areas such as dairy and ranching to modernize livestock farming.

He described security challenges linked to cattle movement, adding, “I looked at the issue of many problems Kaduna had because of the movement of our cows… which affects insecurity and many other factors.”

Sani also pointed to skills development as a crucial area linked to agricultural productivity and economic growth.

He further said: “On the sideline, I led my delegation to meet with Brazil’s leading skill hub and agency called Senai… for me, I feel it’s very important that we had that meeting

He emphasised that Kaduna is “leading in skill development as a state,” highlighted by the recent launch of one of the most equipped institutions for skill acquisition in Nigeria, inaugurated by President Tinubu.

“These areas are also signing a bilateral agreement with Brazil. We will also advance that opportunity because when we talk about improving productivity, you can not ignore skill development,” he said.

The invitation from Brazilian President Luiz Inácio Lula da Silva underscored the mutual commitment to expanding bilateral relations.

Significantly, Nigeria and Brazil are working towards establishing direct air connectivity. President Tinubu’s delegation, which includes key ministers and senior officials, is expected to sign several Memoranda of Understanding during the visit. 

These agreements aim to foster cooperation in areas essential for Nigeria’s sustainable development and integration into Global South economies.

The post Presidency Justifies Tinubu’s Visit To Brazil, Says It’s a Strategic Move for Nation’s Economic Future  appeared first on THISDAYLIVE.

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    Atiku Abubakar: ADC Leading Potent Coalition, Will Shock the World in 2027

    Atiku Abubakar: ADC Leading Potent Coalition, Will Shock the World in 2027

    *’We will upstage the status quo in a way that will leave doubters dumbstruck’*Insists he will contest presidential election 

    *Disowns statement insinuating he may not run
    *Says there’s nationwide degeneration, unprecedented thievery under current administration 

    Emmanuel Addeh in Abuja 

    Former Vice President Atiku Abubakar yesterday vowed that despite efforts by the ruling All Progressives Congress (APC) to ridicule and play down the current momentum in the African Democratic Congress (ADC), the coalition will shock the world in the 2027 presidential election.
    Atiku also laid to rest insinuation that he might not contest the presidential poll two years from now, stressing that he will run for the nation’s top job in the next election cycle.
    One of the politician’s spokespersons during the 2023 presidential election, Tunde Olusunle, disclosed this to THISDAY last night, quoting his ex-principal as maintaining that Nigeria needs to be decisively rescued from the ‘intensive care’ unit it has been consigned to under the Bola Tinubu government.
    Atiku, until recently a prominent figure in the Peoples Democratic Party (PDP), has often sought broad coalitions to strengthen his presidential bids. In that light, the ADC, a hitherto relatively smaller party has brought together some heavyweight politicians, positioning itself as a third-force alternative outside the dominance of the APC and PDP.
    Besides, the former Nigeria’s number two man decried what he described as the unprecedented ‘thievery’ in the current administration, highlighting the need to ‘rescue’ the country from its current leaders.
    He pointed out that the ADC will mobilise Nigerians to upstage the status quo in 2027, emphasising that he will be offering himself for election.
    “The accompanying deceit, the loss of values, the mega-scale, unimpeded thievery and the absolute lack of accountability must disturb every concerned patriot. I will be offering myself to lead the reclamation and reconstruction of our traumatised homeland,” Olusunle quoted Atiku as having said, after conferring with him.
    Atiku explained that the coalition which he is leading under the ADC is to galvanise popular support for the liberation of Nigeria, but said that a platform which was adopted just a few months ago cannot be expected to engender upsets in by-elections that just held.
    “ADC is leading a potent mass movement which will shock the world. We will upstage the status quo in a way which will leave doubters dumbstruck,” he maintained.
    In the same vein, contrary to recent reports to the effect that he may opt out of the 2027 presidential contest, the former Vice President Atiku restated that he will run for the nation’s top job.
    However, apart from Atiku, ex-Anambra Governor, Peter Obi, and former Rivers Governor, Rotimi Amaechi, have made public their intentions to jostle for the ADC’s presidential ticket as part of a coalition of opposition figures seeking to challenge President Bola Tinubu at the polls in 2027.
    While the former vice president has positioned himself as the most experienced hand,  Obi, the 2023 presidential candidate of the Labour Party (LP), has insisted he will not play a secondary role to anyone. Also, Amaechi, a former Minister Of Transportation, has hinted on plans to throw his hat into the ring.
    But Atiku was quoted to have said at the weekend that his commitment to the evolution of a better Nigeria far outweighed his quest to be President.  Prof Ola Olateju of the Achievers University, Owo, Ondo state, who represented him at the defection of several top political figures to ADC in Lagos, suggested that Atiku was not enamoured about occupying Aso Rock at all costs.
    “Atiku Abubakar’s plan is to build a better Nigeria, it’s not about being President. It’s about establishing a government that works for Nigerians. That’s why some of us are with him, not because Atiku must be President at all costs,” Olateju was widely reported to have said at the event he stood in for Atiku.
    But Olusunle stated that after reading the report from his holiday home in the United Arab Emirates, (UAE), Atiku disowned the statement, insisting that the message conveyed during the event was not sanctioned by him.
    “I did not issue that statement,” he said. “When people stand in for me at events, we preview my thoughts on the instant subject and what my contribution or intervention will be, so we are on the same page. In this particular instance, there was no engagement with me to distill my thoughts. Prof Olateju was not speaking for me,” he stated.
    The elder statesman added: “I will run in 2027. Nigeria needs to be decisively rescued from the intensive care unit it has been consigned. The degeneration in our country, the level of poverty and pain, the anguish, is unacceptable.”
    Atiku’s statement is also coming as the presidency has often seized every opportunity to ridicule the ADC, claiming that the coalition only exists on paper and portraying it as inconsequential as well as lacking real electoral weight.

    The post Atiku Abubakar: ADC Leading Potent Coalition, Will Shock the World in 2027 appeared first on THISDAYLIVE.

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    *’We will upstage the status quo in a way that will leave doubters dumbstruck’*Insists he will contest presidential election  *Disowns statement insinuating he may not run*Says there’s nationwide degeneration, unprecedented
    The post Atiku Abubakar: ADC Leading Potent Coalition, Will Shock the World in 2027 appeared first on THISDAYLIVE.

    FAAC Reconciliation: NNPC, FIRS, Others Remit N1.49 Trillion Arrears to Federation in Six Months

    FAAC Reconciliation: NNPC, FIRS, Others Remit N1.49 Trillion Arrears to Federation in Six Months

    *No agreement on $78.2m,  N6.7tn outstanding payments yet 

    Emmanuel Addeh in Abuja 

    Nigeria’s Federation Account received a major inflow of N1.49 trillion in the first half of 2025 from arrears reconciled and paid by the country’s revenue generating agencies, fresh data from the Federation Accounts Allocation Committee (FAAC) has shown.
    A report by the FAAC Post-Mortem Sub-Committee (PMSC), which reviews remittances from key agencies, indicated that the cumulative inflows into the Federation Account between January and June 2025 came from reconciled outstanding arrears previously owed by key agencies.
    These included: The Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Inland Revenue Service (FIRS), and other statutory bodies.
    According to the report seen by THISDAY, the total arrears inflows amounted to exactly N1,490,778,578,480.61 over the six-month period, averaging over N248 billion monthly and providing additional fiscal space for the government at a time of government’s mounting debt service obligations.
    The figures released showed that in January 2025, reconciled arrears worth N367.37 billion were remitted to the Federation Account, the highest single-month inflow during the period. This was followed by N227.15 billion in February and N175.99 billion in March. In April, arrears payment rose to N259.85 billion, before dropping to N247.05 billion in May and N213.37 billion in June.
    Specifically for June 2025, FAAC recorded a reconciled arrears payment of $41.07 million, equivalent to N213.37 billion at the official Central Bank exchange rate of N1528.705 as well as local currency reconciliation of N150.589 billion.
    This payment included $5.19 million (N7.92 billion) from the FIRS in respect of Petroleum Profit Tax value arrears; $35.43 million (N54.15 billion) from NUPRC’s royalty value arrears, and $459,226 (N702.9 million) from NNPC joint venture outstanding royalty. The N150.59 billion came from NUPRC on other royalty receipts.
    But while the N1.49 trillion inflows were welcomed as a boost to the Federation Account, the FAAC report warned that much larger sums remained outstanding.
    At the inter-agency reconciliation meeting held in August 2025, additional outstanding amounts undergoing reconciliation were put at $78.23 million and another N1.72 trillion from FIRS/NNPC and another N2.32 trillion, to hit 6.75 trillion.
     The bulk of this figure was attributed to the NNPC, which accounted for $11.24 million and N164.7billion, and NUPRC/NNPC jointly, which made up $66.99 million.
    In the same vein, FIRS/NNPC reconciliation added N1.72 trillion, while other government agencies owed N2.03 trillion, to hit $78.2 million and N6.7 trillion, which had yet to be reconciled.
    Beyond these, arrears of about N2.54 trillion from before June 2023 are still unresolved, the document showed. These older payments have now been referred to the Stakeholders Alignment Committee and the FAAC Sub-Committee for further reconciliation.
    “Members should note that the above outstanding amounts are still being reconciled at the monthly reconciliation meetings between the agencies and the Sub-Committee. 
    “Furthermore, the sum of N2,535,352,533,190.87 outstanding payments from the revenue generating agencies before June, 2023, were referred to the Stakeholders Alignment Committee and the sub-committee awaits the outcome of the technical reconciliation meeting conveyed by the Ministry of Finance. All outstanding between January 2023 and December 2024 was taken to the Alignment Committee,” the report reiterated.
    The reconciliation exercise is part of government efforts to improve accountability in the management of public finances and close loopholes in remittances by revenue generating agencies. 
    For years, FAAC allocations to the federal, state, and local governments have been undermined by remittances underpayments, with NNPC especially frequently accused by states and civil society groups of withholding funds or making delayed remittances. 
    In the past, FAAC meetings have ended in deadlock over disagreements about what NNPC declares as gross revenue and the deductions it made for subsidy, pipeline repairs, and joint venture obligations before passing the balance to the Federation Account.

    The issue worsened in 2022 and 2023, when huge amounts were carried as unremitted arrears. The ongoing reconciliation exercise seeks to address those backlogs, ensuring that revenues due to the Federation are captured and distributed among the three tiers of government.

    The post FAAC Reconciliation: NNPC, FIRS, Others Remit N1.49 Trillion Arrears to Federation in Six Months appeared first on THISDAYLIVE.

    ​  

    *No agreement on $78.2m,  N6.7tn outstanding payments yet  Emmanuel Addeh in Abuja  Nigeria’s Federation Account received a major inflow of N1.49 trillion in the first half of 2025 from arrears
    The post FAAC Reconciliation: NNPC, FIRS, Others Remit N1.49 Trillion Arrears to Federation in Six Months appeared first on THISDAYLIVE.

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