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Bilateral Trade with Brazil Tops N 1.4 trillion

By on May 25, 2012

Sorronnadi Ezebuiro, the Secretary General of the Nigerian Brazil Chamber of Commerce has disclosed that the bilateral trade between Nigeria and the South American country has reached N 1.4 trillion.

Speaking to journalists during the inauguration of the Chamber of Commerce, Ezebuiro disclosed that Nigeria’s primary export to Brazil was crude oil, whilst Brazil routinely exports automobiles, chemicals and electronics to Nigeria.

He said, “Nigeria is the biggest exporter to Brazil. We are Brazil’s most important trading partner and the most important destination of investment in Africa.

“Both countries are key players in the economies of their regions. Brazil is a leading political and economic power in Latin America. Nigeria is equally the leading political and economic power in West Africa.

“Nigeria is the second largest trade partner of Brazil in Sub-Saharan Africa and 11th in the world.  Brazil is the third largest importer of Nigerian crude oil after USA and India.  Nigeria’s balance of trade with Brazil is very favourable”.

Speaking on the strength of the Brazilian economy, he said, “Brazil’s current account surpluses had continued to hit record levels, indicating that exports were growing strongly.  Its income per head is now twelve times that of India and China.  Nigeria has a great deal to learn and tap from Brazilian experience.  So come on board, let’s take advantage.”

One Comment

  1. realest1s

    May 26, 2012 at 2:43 am

    When will Nigeria start exporting finished goods ??

    That is where the money and jobs are.
    When people go to work crime will reduce.
    Africa keeps exporting its raw materials and Imports them back at higher prices in form of finished goods it can barely afford.