Brazil, Nigeria Trade Relations Recorded $281bn Export Earnings in 2021, Says Ambassador – THISDAYLIVE

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Brazil, Nigeria Trade Relations Recorded $281bn Export Earnings in 2021, Says Ambassador Ugo Aliogo The Brazil and Nigeria trade relations recorded $280.81 billion in export earnings in 2021. However, Nigeria’s export earnings to Brazil

However, Nigeria’s export earnings to Brazil was $47.2 billion in the year under review.

He said Brazil remains committed to strengthening trade relationship with Nigeria, stating that in 2021 some of the import commodities were iron ore, soybeans, crude petroleum, sugar, and beef, while the export commodities were refined petroleum, chemicals, crude oil, vaccines, fertilizers. He further explained that Russia was the country’s third supplier of urea fertilizer, but due to the war, supplies from Russia have been replaced by supplies from Nigerian to the tune of $1 billion 2022, noting that they have already bought $517 million tonnes of urea, “it is funny, but that is the same trade deficit that we have.”

 

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