Brazil and Nigeria signed US$3.5bn in deals while trade shrank. Inside the Lagos–Santos corridor: sugar, urea, jets, and the risks on both sides.
Analysis · Brazil & West Africa
Key Facts
—The paradox. Brazil and Nigeria signed US$3.5 billion in new deals — while Brazil slipped from Nigeria’s eighth-largest trade partner to tenth.
—The size. Two-way trade runs at about US$2.1 billion a year, with Nigeria holding a surplus of roughly US$278 million.
—The cargo. Sugar sails north — US$669 million of it in 2025. Fertiliser sails south: Nigerian urea is now 22.9% of Brazil’s urea imports.
Audio version of Nigeria, Brazil intensify move to implement $3.5bn trade agreements
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