During a state visit to Brazil in August 2025, President Bola Tinubu told Brazilian investors there was no more corruption since he took office.
He made this remark at a luncheon with members of the Brazil Business Group and top-level officials, emphasizing the results of his administration’s economic reforms — notably improved access to foreign exchange and a more business-friendly environment.
Tinubu highlighted that what he called “initially painful” reforms are now yielding visible results — greater liquidity in the economy and a more transparent forex market, where businesses no longer need personal connections to obtain foreign exchange
During this same visit, Nigeria and Brazil inked several memoranda of understanding (MoUs) across areas including trade, energy, science, aviation, agriculture, and finance. A direct air service agreement was signed, and Petrobras was invited back to Nigeria to participate in the energy sector.
Watch the president speak below: