The Lagos Chamber of Commerce and Industry (LCCI) has described President Bola Tinubu’s recent diplomatic missions to Brazil and Japan as “new trade opportunities worth exploring,” urging the government to swiftly translate signed agreements into tangible outcomes.
In a statement on Monday titled “Nigeria’s Global Partnerships, From Agreement to Action,” LCCI Director-General, Dr. Chinyere Almona, said the chamber expects government to build on the gains by engaging strategic partners that will strengthen Nigeria’s position in global trade.
Almona commended the signing of the Bilateral Air Service Agreement (BASA) with Brazil, noting that the pact would expand export markets, boost tourism and cultural exchange, and open new trade routes. She stressed that beyond aviation, the deal offers opportunities in aircraft maintenance, aerospace engineering, and vocational training for Nigerian youth.
“The Nigeria–Brazil BASA should not be just about flights, but about creating new pathways for trade, mobility, and job opportunities for Nigerian youths. It must therefore be activated quickly and strategically,” she said.
On outcomes from the Tokyo International Conference on African Development (TICAD 9), Almona welcomed Japan’s $238 million financing framework to upgrade Nigeria’s national electricity grid. She noted that the gesture reinforces the need for Nigeria to equip its youth with technical and vocational skills to harness opportunities in labour-intensive sectors.
“As we invest fresh capital into the national grid, we must also consider renewable energy, CNG adoption, and creating an enabling environment that attracts state and foreign investments,” she added.
Almona emphasised that Nigeria’s foreign policy must shift from signing agreements to delivering results. She advised that the private sector should be fully integrated into implementation through follow-up mechanisms, timelines, and skills development.
“By combining visionary diplomacy with practical action, Nigeria can rebrand itself as a reform-driven, youth-powered, and investment-ready economy. What was signed abroad must be translated into prosperity at home,” she said.
The chamber also pointed to recent data showing non-oil exports rising 19.6% to $3.23 billion in the first half of 2025, driven by global demand for cocoa, fertiliser, and cashew nuts. It noted, however, that shrinking export earnings from the United States and weak crude oil prices could strain foreign exchange inflows.
Almona concluded by urging the government to deepen non-oil exports and strengthen intra-African trade, while positioning Nigeria to negotiate effectively in an uncertain global economic climate.
