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Nigeria: Tinubu Hails Petrobras' Return As Nigeria Signs 5 MOUs With Brazil
Petrobras plans to re-enter Nigeria after five years to boost energy cooperation and investment, supported by five signed agreements covering trade, science, and finance sectors.
- During his 2025 state visit to Brazil, President Bola Tinubu welcomed Petrobras' planned resumption of operations in Nigeria and finalized five Memoranda of Understanding aimed at enhancing collaboration in areas such as commerce, diplomatic relations, scientific research, aviation, and financial services.
- The MoUs and Petrobras' return follow reforms Tinubu initiated in Nigeria, which liberalised the forex market and attracted investments after an initially painful adjustment period.
- Tinubu emphasized Nigeria's abundant economic potential and encouraged Brazil to collaborate by providing expertise in areas including technology exchange, agricultural stability, industrial development, clean energy, medical services, and pharmaceutical sectors.
- He highlighted the significant impact of the changes implemented under his leadership in Nigeria and reported that trade between the two countries reached nearly $2.1 billion in 2024, with Brazil exporting primarily sugar and jams to Nigeria.
- The agreements and Petrobras' return mark a renewed chapter in Nigeria-Brazil relations expected to deepen economic cooperation, strengthen aviation links, and boost strategic partnerships.
19 Articles
19 Articles
Nigeria Is Eager to See Petrobras Return to Its Oil Patch
Nigeria would like to see Brazil’s Petrobras return to its oil fields after a five-year absence, Nigerian media reported, citing a statement by President Bola Tinubu. Tinubu is on a two-day visit to Brazil, where he said that “We have the largest gas repository. I don’t see why Petrobras shouldn’t return as a partner in Nigeria as soon as possible,” adding that “I appreciate President Lula’s promise that this will be done quickly,” as quoted by …
Brick by Brick: Tuggar and the Nigeria–Brazil Renewal - THE AUTHORITY NEWS
By Alkasim Abdulkadir On August 25, 2025, Nigeria and Brazil signed five landmark Memoranda of Understanding (MoUs) in Brasília, covering aviation, foreign affairs, science and technology, and the Bank of Agriculture. The ceremony, witnessed by Presidents Bola Ahmed Tinubu and Luiz Inácio Lula da Silva, symbolised a reset of bilateral ties. For most observers, the moment was defined by presidential statements -President Bola Ahmed Tinubu urging …
Nigerian President Bola Tinubu announced the imminent return of Petrobras, Brazil's national oil company, five years after its withdrawal from the country. This announcement, made during Tinubu's state visit to Brasilia on 24 and 25 August 2025, marks a turning point for economic and energy relations between the two countries.
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