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AU Summit: Nigeria, Brazil trade volume hits $1.6bn as Tinubu, Lula da Silva hold talks
As the ongoing African Union summit gains momentum, President Bola Tinubu of Nigeria and President Luiz Inácio Lula da Silva of Brazil convened in Addis Ababa, Ethiopia, on Sunday.
According to Ajuri Ngelale, the Special Adviser to President Tinubu on Media and Publicity, their discussions were highly productive, particularly focusing on enhancing bilateral ties across various sectors.
President Lula da Silva noted that although Nigeria and Brazil previously enjoyed a trade volume exceeding $10 billion, it has now declined to $1.6 billion. He expressed his commitment to strengthening bilateral relations.
President Tinubu, in turn, emphasized Nigeria’s economic potential and urged Brazil to tap into the investment opportunities available in Nigeria. He highlighted ongoing reforms aimed at facilitating business and improving critical sectors such as healthcare, education, and agriculture.
Assessing the wealth of natural and human resources in Nigeria comparable to Brazil’s, President Lula da Silva underscored the historical ties between Africa’s largest economy and South America’s largest economy.
He stressed the need for stronger relations between the two nations across various fronts including academia, culture, commerce, agriculture, industry, and trade. He also highlighted the importance of direct flights between Lagos and Sao Paulo and urged collaboration in aviation.
President Tinubu reiterated Nigeria’s readiness to strengthen ties with Brazil and expressed determination to overcome obstacles to business. He acknowledged Brazil’s progressive legacies and emphasized Nigeria’s commitment to implementing similar reforms.
Identifying areas of immediate focus such as solid mineral exploration, agriculture, education, and healthcare, President Tinubu affirmed the willingness of both leaders to collaborate.
The leaders agreed to establish direct air links between the two countries and to form committees to work on joint action plans. They expressed optimism about the future of Brazil-Nigeria relations and agreed to arrange a state visit by President Tinubu to Brazil, following an invitation extended by President Lula da Silva, which was warmly accepted.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
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