Alexander Okafor, President of the Nigerian-Brazilian Chamber of Commerce and Industry and, Executive Chairman, Chicason Group, together with, Ambassador Francisco Luz, the Consul General of Brazil share their thoughts with EHIME ALEX on the drawbacks and move to rekindle Nigeria-Brazil bilateral trade relations
Members of the Nigeria-Brazil Business Forum have rekindled their engagement for better trade relationships. What are the take-home points especially for the Nigerian business community?
I think this is a new era because, after the cut-off of direct flights from Brazil to Nigeria, the business flow dropped. Nigerian businessmen found it very difficult, after going to Europe or the Middle East, before going to South America which would have taken seven to eight hours. A new Consul General [Amb. Francisco Luz] in Lagos has been working very hard with our ambassador to Brazil [Amb. Ahmad Makarfi] to see how they can reconnect businessmen to start business again.
Brazil is the biggest economy in South America; Nigeria is the biggest economy in Africa and we have a lot of things in common. With the visit of this trade delegation and the meetings we had, the future is bright. It is another opportunity for Nigerian businessmen to tap into Brazil and see what we can begin to do to improve our economy and keep the relationship.
Yes, in recent times because of Dangote’s fertilizer, there has been a lot of supply to Brazil, so the exports from Nigeria have increased. We still have other things we can export to Brazil if we do our research very well. Then, for those who are importing goods from overseas, it is a wonderful opportunity because one thing with Brazil is the country is safe-sufficient in everything and their product is standard. It is an American standard. So, you cannot get anything from Brazil and anybody will tell you that the quality is not right. It is not possible! They have standardised their products, and it is a wonderful opportunity when you look at the prices because their currency and labour which are cheaper than America and Europe make their products attractive. So, it is going to be a win-win situation.
Can you speak on the Green Imperative Initiative and the issue of direct flight? We heard that Air Peace is already making a move.
Air Peace is more likely to [commence flight services] because of their already existing relationship with Brazil. [When they start] I think the traffic will be very encouraging. What we need to do is just create awareness of the opportunities we have in Nigeria and Brazil.
What does the celebration of the Bicentennial Independence of Brazil actually mean for an average Brazilian?
We are using this celebration to try to raise the profile of Brazil here in Nigeria. This will help the business community because the idea is to try to show the potential [of Brazil] and to make it a way of moving forward to break the challenge of logistics and other issues that hamper our bilateral trade relations. I think this will support the business community and we will facilitate doing business between the two countries.
One of the issues of discourse is the Green Imperative. At what stage is it now, has it been signed?
Yeah! It has been signed. They are already releasing the first tranche of $185 million and this will be in the next few days. Everything was signed, the demand letters were signed and they are already releasing the money in London. So, it is international funds. I hope soon.
(Cut in) When is that likely to be?
This is up to the banks. It is any time now.
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