President Bola Ahmed Tinubu has declared that his administration has eliminated corruption in Nigeria, assuring international investors that ongoing economic reforms are creating a transparent and stable environment for business.
The President made this claim on Monday during a meeting with Brazilian ministers and members of the Brazil Business Group in Brasilia. He highlighted the government’s determination to implement reforms that foster growth across sectors such as technology transfer, renewable energy, manufacturing, and food security.
TJ News Nigeria reports that Tinubu described Nigeria as a “vast, untapped market full of opportunities for Brazilian companies.” He maintained that the measures taken by his administration, though painful at first, are now yielding positive results for the economy.
“It’s getting clearer to the people. We have more money for the economy, and no more corruption,” the President said.
Emphasis on Transparency and Central Bank Reforms
Tinubu pointed to reforms at the Central Bank of Nigeria (CBN) as evidence of transparency in the financial system. According to him, the era of preferential foreign exchange allocations has ended.
“You don’t have to know anyone before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses,” he stated.
The President added that such reforms were aimed at restoring investor confidence and ensuring that businesses could operate without bureaucratic or political interference.
From Symbolic Relations to Practical Cooperation
Reflecting on his previous visits to Brazil, Tinubu stressed that Nigeria was now determined to move beyond symbolic ties and strengthen practical cooperation with South America’s largest economy.
“We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises, but today we say that is the end of that,” he added.
Focus of Nigeria–Brazil Talks
In a statement issued by presidential spokesperson Bayo Onanuga, it was confirmed that Tinubu also attended a state luncheon at the Itamaraty Palace. Discussions centered on:
- Strengthening bilateral economic cooperation
- Expanding trade opportunities
- Promoting innovation-driven partnerships
- Encouraging sustainable development initiatives
The meeting further resulted in the signing of bilateral agreements designed to enhance collaboration between the two countries. These agreements are expected to drive technological exchange, boost agriculture and manufacturing, and open new opportunities for Brazilian businesses in Nigeria.
Key Takeaway
President Tinubu used the Brazil–Nigeria forum to position Nigeria as a reformed economy, free of corruption and ready for foreign investment. The government hopes that recent reforms—particularly in the financial sector—will attract more international partners and foster long-term economic growth.
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