President Bola Ahmed Tinubu has opened a new chapter in Nigeria–Brazil relations with the planned return of Petrobras, Brazil’s state oil giant, to Nigeria’s energy sector, five years after it pulled out of joint operations.
Speaking in Brasília during his State Visit to Brazil, President Tinubu described the move as a major step in reigniting cooperation between the two countries, particularly in oil and gas.
“We have the largest gas repository. So I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible,” the President told journalists, thanking his Brazilian counterpart, Luiz Inácio Lula da Silva, for promising swift action on the matter.
Beyond energy, the visit produced five Memoranda of Understanding (MoUs) covering trade, aviation, science, finance, and diplomacy. Tinubu highlighted the opportunities Nigeria presents for Brazilian companies, pointing to the work of Embraer, the aircraft manufacturer, which is setting up a service hub in Nigeria to support local airlines and the wider region.
The Nigerian leader said it was time to move past rhetoric into concrete collaboration. “We have elevated this promise to the path of reality, as you have seen in various MoUs,” he said, urging Brazil to share its advancements in technology, agriculture, and pharmaceuticals with Nigeria.
President Lula, in his remarks, said Brazil and Nigeria must deepen ties as two of the world’s largest Black nations. He announced plans for Air Peace to begin direct flights between Lagos and São Paulo, a move expected to ease travel and business exchanges.
The two leaders also underscored their shared commitment to free trade and stronger South-South cooperation.
Trade between Nigeria and Brazil stood at about $2.1 billion in 2024, with Brazil exporting sugar and jams worth nearly $1 billion and importing fertilisers worth $1.1 billion from Nigeria.
President Tinubu later assured investors that Nigeria’s economic reforms were already paying off, saying, “It was initially painful, but today the result is blossoming. The door is open for businesses.”
The agreements were signed after a two-hour meeting at Palácio do Planalto, with Tinubu later honoured at a state luncheon at the Itamaraty Palace.
