President Bola Tinubu and President Luiz Inácio Lula da Silva of Brazil met in Addis Ababa, Ethiopia, on Sunday, and had fruitful discussions on comprehensive strengthening of bilateral ties in all fields.

Speaking at the meeting, President Tinubu emphasized the strength of Nigeria's economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business.

The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.

Assessing Nigeria's natural and human resource wealth akin to Brazil's, President Lula da Silva said Africa's largest economy and South America's largest economy have a long and interesting history together.

The Brazilian leader said Nigeria and Brazil once had a trade volume of more than $10 billion in the past, which has now plummeted to $1.6 billion, emphasizing that he is determined to strengthen bilateral relations.

Responding, President Tinubu said Nigeria is ready to deepen ties with Brazil, noting that it is a "legacy of what can be done together to change the future for countless millions of our citizens".

While identifying solid mineral exploration, agriculture, education, and healthcare as areas of immediate concern, President Tinubu emphasized that the will of the two leaders to collaborate is firmly established.

The leaders of the largest democracies in Africa and South America, respectively, agreed to work out the modalities for a state visit to Brazil by President Tinubu after President Lula da Silva extended an invitation, which the Nigerian leader warmly accepted