Shettima, At 2nd Nigeria-Brazil Strategic Dialogue Mechanism, Lauds $1bn Agric Deal, Strategic Alliance Between Both Nations 

. Our partnership is anchored in shared values, concrete results agenda, says Brazilian VP

. Defence, drug control, energy, food security, culture, feature in seven fresh MoUs

Deji Elumoye in Abuja 

Vice-President Kashim Shettima on Tuesday applauded the over $1 billion Green Imperative agricultural initiative between Nigeria and Brazil, saying it is a milestone in the two countries renewed strategic alliance, grounded in mutual respect and practical cooperation.

Specifically, Shettima said the partnership represents a shared dream between two major democracies committed to practical outcomes and mutual prosperity.

Speaking during the opening session of the 2nd Nigeria-Brazil Strategic Dialogue Mechanism (SDM) at the State House, Abuja, the vice-president said the longstanding relationship between both countries is not defined by geography but by common ambition.

Shettima had earlier received the Brazilian Vice-President, Geraldo Alckmin, his wife, Maria Lúcia Alckmin, and members of the Brazilian delegation shortly after their arrival in Abuja for the SDM.

According to Nigeria’s vice-president: “Brazil and Nigeria are not bound by geography, but by a shared dream. Two large, diverse democracies. Two economies with immense natural and human capital. Two nations with the right to dream and the ability to build.”

He emphasised the transformational impact of the Green Imperative Project, jointly developed by both nations, which aims to deploy over $1 billion to deliver mechanised farming equipment, training and service centres across Nigeria.

“This project will create jobs, raise productivity, and help secure Nigeria’s ambition to feed itself and others. The Green Imperative is a flagship of this partnership, and one we are determined to deliver,” he said.

Shettima also used the occasion to reaffirm the President Bola Tinubu administration’s commitment to economic reforms that are reshaping Nigeria’s investment landscape.

His words: “Fuel subsidies have been removed. The exchange rate has been unified. A new business facilitation regime has come into force. These decisions are not without cost, but they are restoring credibility to our markets and discipline to public finance.”

The vice-president explained that Nigeria is laying the foundation for a one trillion-dollar economy by 2030, with reforms spanning agriculture, energy, education and public finance.

He said: “We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining and renewables. We recognise Brazil’s experience in biofuels and renewable technologies and see clear opportunities for joint ventures, knowledge transfer and co-investment.”

Shettima called for enhanced cooperation in security, health, education and innovation: “In health and education, our priorities are straightforward. We want to promote access, quality and inclusion. From the rollout of a student loan scheme to digital learning platforms and expanded vocational training, we are investing in the minds and talents of our young people.

“The Memoranda of Understanding before our sister nations today speak to the breadth of this cooperation. But memoranda are only as meaningful as the follow-through they inspire. We must resist the temptation to confuse signing with solving,” he said.

Urging both sides to agree on practical steps to measure and enforce progress, the vice-president said: “Let this Strategic Dialogue Mechanism not be remembered as a formal reunion, but as a decisive pivot—from aspiration to execution, from promise to proof.”

Also speaking, Brazil’s Vice-President, Alckmin, said the strengthening of the Brazil-Nigeria partnership is anchored on shared values and a concrete results agenda, noting that: “It is with great satisfaction that we witness the important results achieved in several fronts of cooperation.”

Alckmin highlighted Nigeria’s presence in the 2nd Brazil-Africa dialogue on food security held in Brasilia last May, pointing out areas where the two countries have strengthened partnership and cooperation.

He said: “In the signing of Memoranda of Understanding in areas of agriculture and security, which will boost our cooperation, our partnership has been strengthened also by the frequent high-level visits such as President Bola Tinubu’s recent participation in the G20 and the upcoming BRICS meeting in July.”

On climate issues, the Brazilian vice-president said his country has the largest tropical forest in the world, which is a powerhouse in the green and low-carbon economy, just as he stated that it is impossible to discuss the energy transition without including Brazil.

“I invite Nigeria, a country that also plays a leading role in these agendas, to come to COP30 in Belém at the end of this year. We must cooperate on these crucial issues for our countries and the world, and we have made a lot of progress,” he added.

Earlier in his opening remarks, the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, said the event marked the epoch of Nigeria-Brazil bilateral relations and a shared commitment to strengthening cooperation with mutual understanding through people-to-people exchange between both countries.

He noted that both countries share good relations dating back to the 1960s when Nigeria established diplomatic relations with Brazil.

The minister disclosed that the Strategic Dialogue was established to deepen ties between Nigeria and Brazil, with the first meeting held in 2013 in Brasilia with emphasis on economic and social development.

On his part, the Ambassador of Brazil to Nigeria, Carlos José Areias Moreno Garcete, who represented Brazil’s Minister of Foreign Affairs, explained that Nigeria and Brazil share deep historical and cultural ties, both recognizing their common identities, one of which is the warm friendliness and affection they received in Nigeria, attesting to the strong bond between both countries.

According to him, the reintegration of Brazil into the global stage has been the preoccupation and foreign policy direction of Brazilian President Luiz Inácio Lula da Silva, and within that context, relations with Africa are a top priority.

Garcete stressed that this is not because of Africa’s growing global importance but because Brazil’s policy towards Africa is directly linked to its domestic agenda.

He noted that President Lula has said in the 2nd session of the Brazil-Africa Dialogue on Food Security, Fight against Hunger, and Rural Development that: “Africa is part of Brazil and Brazil is proud to say that it is part of Africa.

“We intend to build partnerships with Africa in developing economic, social and environmental initiatives, in particular to eradicate hunger and poverty and to reduce inequality on both sides of the planet,” he added.

Also speaking, the Minister of Defence, Mohammed Badaru Abubakar, stated that the strategic dialogue meeting is not just a meeting of two friendly nations but a meeting to share a vision for peace, security and sustainable development both in their respective regions and on the global stage.

Abubakar noted that the strategic meeting offers another opportunity to consolidate the gains and chart a new path for the future, as the two countries will seize the unique opportunity to deepen defence cooperation in four key areas, namely maritime security in the South Atlantic, acknowledging that Brazil’s role in this is well recognised.

For his part, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, informed the delegation that the strategy of operation for food security under the Renewed Hope Agenda of President Tinubu is gaining high momentum of development in Nigeria.

He called for more partnership with Brazil in agriculture as the sector “remains a cornerstone in livelihood and food security”.

Other ministers, who spoke at the opening ceremony, included the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole and Minister of State for Health, Dr Iziaq Salako. 

Seven MoUs spanning critical sectors, including agriculture, defence, energy, culture and counter-narcotics, were signed on the first day of the meeting, with others lined up for the coming days.

The first MoU signed was an Addendum to the Strategic Dialogue Mechanism (SDM), signed by Vice-President Shettima on behalf of Nigeria and his Brazilian counterpart. The document reaffirms the guiding framework for Nigeria-Brazil cooperation, first established over a decade ago.

The second was the Agreement on Defence Cooperation, signed by the Vice-President of Brazil and Nigeria’s Minister of Defence. The agreement opens new avenues for collaboration in military training, intelligence sharing and defence technology.

In the energy sector, both countries signed an MoU in the Field of Technical Cooperation on Energy, outlining joint plans in electricity generation, renewable energy development and energy access solutions.

Others were the signing of an Addendum to the MoU on Cooperation in Livestock, Agriculture, and Food Security; MoU on Audiovisual Cooperation; MoU on Tourism Cooperation; and Cooperation in Combating the Illicit Production, Manufacture, and Trafficking in Narcotic Drugs and Psychotropic Substances signed by the Director of International Cooperation of the Brazilian Federal Police and the Chairman/Chief Executive Officer of Nigeria’s National Drug Law Enforcement Agency (NDLEA).

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    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    ·                     NGX capitalisation jumps 41.4% to N88.77trn

    ·                     FX stability, bold reforms, corporate resilience fueling rally

    ·                     Analysts project market to cross N100trn mark before end of 2025

    Kayode Tokede

    With renewed confidence, the stock market has delivered a stunning performance, gaining N26.01 trillion in just eight months.

    Driven by strong investor appetite, bold policy shifts, and a wave of corporate resilience, the rally signals not just numbers on the trading board but a broader story of optimism and recovery.

    Specifically, the market capitalisation that opened 2025 at N62.763 trillion, gained N26.01 trillion or 41.43per cent in eight months to close yesterday, the last trading day in August at N88.769 trillion.

    Also, the Nigerian Exchange Limited All-Share Index (NGX ASI) closed yesterday, at 140,295.50 basis points, advancing by 37,369.10 basis points or 36.31 per cent year-to-date (YtD) from 102,926.40 basis points it closed for trading in 2024.

    Capital market analysts attributed the stock market N26.01 trillion growth to stability in the foreign exchange market, companies recovering from foreign exchange losses, market liquidity, capital inflow, dominance of domestic investors, increasing portfolio investment, Central Bank of Nigeria’s (CBN) banking sector recapitalisation, and insurance sector reforms. All these, they pointed out, have played  critical role in overall stock market appreciation in the growth so far in the first eight months of 2025.

    So far in 2025, the stock market has seen the Monetary Policy Committee of the CBN retaining interest rate at 27.50 per cent, inflation rate moving to 21.88 per cent as of July 2025 from 15.44per cent in December 2024, listing by introduction of Legend Internet Plc and banks announcing the outcome of fresh capital raising on the  Exchange.

    Also, yield on Nigerian Treasury Bills  (NTB) has dropped to 15.61 per cent as of July 2025 from  18.00 per cent. 

    In the eight months under review, several stocks listed on the NGX have recorded strong month-to-date appreciation, reflecting heightened foreign investor confidence driven by improved macroeconomic indicators and robust corporate earnings.

    THISDAY checks showed that out of the N88.769 trillion market capitalisation, BUA Foods Plc contributed 11.96 per cent when its market capiitalisation closed yesterday, at N10.62 trillion, followed by MTN Nigeria Communications Plc that contributed 10.3 per cent amid N9.13 trillion market capitalisation as of August 29, 2025. 

    The growth in BUA Foods stock price impacted on NGX Consumer Goods Index on the NGX to emerge as the best performing index, while the NGX Oil & Gas Index maintained its position as the worst performing index on NGX.

    As NGX Consumer Goods Index appreciated by 84.24per cent YtD, NGX Oil & Gas plummeted to -12.19 per cent in its YtD performance. 

    Capital market analysts noted that the corporate earnings reports of H1 2025, among other factors, encouraged investors seeking high returns in a volatile macro environment.

    The Managing Director, Globalview Capital Limited, Mr. Aruna Kebira in a chat with  THISDAY,  noted  that the  stock  market  in the eight months of 2025, benefitted from drop in inflation, among others.

    “The yields in the money market are not looking as attractive as they were in 2024, making discerning investors in search of better yields consider the capital market as their investment destination.

    “In the last MPC, the MPR was retained, including other metrics. This is sending positive signals that, as the inflation figure and money market yields are downward looking,  the MPC would have a reason to tinker the MPR downward. Which is not always fixed income friendly,” he added.

    He predicted that the stock market in  September 2025, would be hinged on the quality of the audited half year results and account of Zenith Bank Pl, among others.

    “If the various issuers demonstrate a performance higher than the corresponding period of 2024 and declare an impressive interim dividend, the stock  market will move to appreciate their prices.

    “I also see an improvement in the liquidity around the stock market arena, which will boost market participation and invite the bull into the market,” he added.

    For his part, the Managing Director and Chief Executive Officer, APT Securities and Funds Limited, Kasimu Garba Kurfi, projected that the market capitalisation was expected to surpass the N100 trillion mark by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities.

    Kurfi identified key drivers of the 2025 market rally, including the elimination of foreign exchange-related losses by companies.

    He pointed out that in 2024, listed firms posted pre-tax FX losses of N507.2 billion, up from N359 billion in 2023, representing a combined N867 billion in losses.

    “In 2025, we have seen zero FX losses due to exchange rate stability, and this has significantly boosted investor confidence,” he said.

    The APT Securities boss said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) has triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme has revived the primary market, attracting over N2 trillion in 2024, with similar volumes anticipated in 2025.

    Capital market analysts noted that sustaining this momentum in the remaining of 2025 will depend on the continuation of stable and credible economic policies.

    The Vice President, Highcap Securities, David Adonri noted that the equities market so far in 2025 has witnessed massive interest in the recovering major stocks such as Airtel Africa, Nestle Nigeria Plc, Nigerian Breweries Plc, Cadbury Nigeria Plc, MTN Nigeria Communications Plc, and others which propelled the rally.

    In addition,  analysts at Cordros Research stated that, “We believe the domestic equities market might respond positively to the MPC’s decision to pause interest rate ikes as investors assess the likelihood of policy easing in the medium term.

     “We also expect to see some rotation into sectors positioned for expansion in a lower-rate environment, particularly the manufacturing sector, as lower financing costs, improved input cost dynamics, and stronger consumer demand enhance growth prospects, making the sector more attractive to investors

    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

    ​  

    ·                     NGX capitalisation jumps 41.4% to N88.77trn ·                     FX stability, bold reforms, corporate resilience fueling rally ·                     Analysts project market to cross N100trn mark before end of 2025 Kayode Tokede With renewed confidence, the
    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket

    Chuks Okocha in Abuja

    Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the 2027 presidential election, describing the publication as false and misleading.

    Jonathan’s cousin, Azibaola Robert, who debunked the report in a statement on his verified Facebook page, however, declined to confirm if the former president has decided to contest in 2027.

    The denial followed a report that Jonathan had opted not to pursue a second-term ambition so as not to disrupt Southern unity ahead of the polls.

    Although the former president has not formally declared his candidacy, strong indications point to ongoing nationwide consultations with political stakeholders as part of moves to actualise a potential comeback bid.

    Azibaola, who faulted the news report, wrote: “The story is completely false. Former President Jonathan never said he would not contest in 2027. The so-called aide quoted in the publication does not exist.”

    The clarification comes amid growing speculation over Jonathan’s political future.

    While he has not officially announced his intention to run, his cousin stressed that he has equally not ruled himself out.

    “The former president has made it clear that he would not yield to calls not to run, since those making such admonitions had selfish motives,” Azibaola said, without disclosing when Jonathan might formally declare his ambition.

    Jonathan, who served as president between 2010 and 2015, remains a formidable figure in Nigeria’s political landscape.

    Meanwhile, Governor of Bauchi State, Bala Mohammed, has said the Peoples Democratic Party (PDP) is considering Jonathan or Peter Obi, ex-governor of Anambra, to possibly lead the party to the polls in 2027.

    His comment comes in the wake of the PDP’s decision to zone the 2027 presidential ticket to the South.

    On Wednesday, Abba Moro, Senator representing Benue South, said some individuals have been engaging with Jonathan and Obi over a potential return to the PDP.

    He also hinted that Obi could clinch the party’s presidential ticket in 2027 if he decides to return.

    Speaking during his appearance on national television, Mohammed said Jonathan remains “one of the most celebrated politicians today despite previous political blackmail against him” before the 2019 election.

    Mohammed, who is Chairman of the PDP Governors’ Forum, said Obi, who contested on the platform of the Labour Party (LP) in 2023, would be given a chance if he returns.

    “But certainly, President Jonathan is one of the candidates we are thinking of, if he joins us and opens his mind to run,” he said.

    “And even other people like Governor Obi, because if he decides to come to a better platform where there are no encumbrances, he will be given the opportunity too,” Bala said.

    Asked whether the PDP governors were engaging Obi ahead of the 2027 election, he replied: “Have you not seen him with me? He’s my brother, my friend.”

    “And of course, he’s one of the most celebrated politicians too. You see him within the coalition or no coalition. Definitely, we are not sleeping, only that we don’t make noise,” Mohammed added.

    He noted that other Southern politicians, including Seyi Makinde, Governor of Oyo State, are also free to contest the ticket.

    “There are so many politicians. I even had a session with Governor Amaechi. I have not been sleeping,” the Bauchi governor said.

    “I have to make sure I create a closing-of-rank for people to come and help.”

    When asked about the possibility of Rotimi Amaechi returning to the PDP, the Bauchi governor replied: “Well, he’s free if he wants to come back.”

    Mohammed also said the PDP lost the 2023 election because it failed to zone the presidential ticket to the South.

    The governor suggested that the party needs a Christian from the South to emerge as a presidential candidate, with a Muslim from the north as running mate

    The post Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin appeared first on THISDAYLIVE.

    ​  

    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket Chuks Okocha in Abuja Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the
    The post Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin appeared first on THISDAYLIVE.

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