After five years, Brazil’s oil giant Petrobras is set to return to Nigeria, marking a fresh chapter in deepening ties between the two nations.
President Bola Tinubu announced Petrobras will soon resume joint ventures in Nigeria, boosting the country’s energy sector. Speaking in Brasília alongside Brazil’s President Lula, Tinubu called it a “major boost” and praised Lula’s commitment to swift action.
Five new MoUs were signed covering trade, diplomacy, science, aviation, and finance. Notably, Brazilian aircraft maker Embraer plans a West Africa service hub in Nigeria, raising the bar for regional aviation.
Tinubu emphasised moving beyond past hurdles to unlock Nigeria’s vast potential, calling for Brazil’s support in technology transfer, renewable energy, healthcare, and drug manufacturing. He highlighted Nigeria’s ongoing economic reforms and zero tolerance for corruption as key investor guarantees.
President Lula hailed the renewed partnership between two of the world’s largest Black nations, announcing a direct Lagos–São Paulo flight by Air Peace to bring people closer than ever.
Trade between Nigeria and Brazil hit $2.1 billion in 2024, and the new agreements promise to raise that game significantly.
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