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Nigeria, Brazil Sign Five MoUs as Tinubu Welcomes Petrobras’ Return

Brasília, Brazil — Nigeria and Brazil on Monday signed five landmark Memoranda of Understanding (MoUs) spanning trade, diplomacy, aviation, finance, and science, in what both sides hailed as a turning point in their decades-long bilateral ties.

The agreements were sealed at the Palácio do Planalto in Brasília and jointly announced by President Bola Ahmed Tinubu and his Brazilian counterpart, Luiz Inácio Lula da Silva.

Petrobras Set to Return

A highlight of the renewed engagement is the imminent return of Brazil’s state-owned oil giant, Petrobras, to Nigeria—five years after it halted joint ventures in the country.

“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,” Tinubu said, thanking Lula for committing to fast-track the company’s re-entry.

The Nigerian leader described Petrobras’ comeback as a catalyst for fresh cooperation in energy, gas, and technology transfer.

Expanding Economic Cooperation

Tinubu lauded Brazil’s Embraer for its plans to establish a service centre in Nigeria, saying it would strengthen local airline operations through maintenance and repairs.

He urged both countries to move beyond symbolic friendship to practical projects in food security, pharmaceuticals, renewable energy, and manufacturing.
“Why can’t Nigeria host the production of generic drugs which Brazil has excelled at? Why can’t we share Brazil’s technological strength with Africa?” he asked.

Tinubu also assured investors of reforms at home, noting that painful but necessary economic measures were already yielding results.
“We have more money for the economy, and there will be no more corruption,” he said.

Lula: Nigeria and Brazil Are Natural Partners

In his remarks, President Lula said the new agreements signaled a fresh era of cooperation at a time when protectionism threatened global trade.
“At a time when protectionism and unilateralism have returned, Nigeria and Brazil reaffirm their bet on free trade and productive integration,” Lula declared.

He noted the countries’ shared cultural heritage and economic potential, describing agriculture, oil and gas, fertilisers, and machinery as priority areas for collaboration.

Lula also confirmed approval for a direct Air Peace flight between Lagos and São Paulo, calling it “an essential step to strengthen ties between our societies.”

The Five MoUs Signed

A Bilateral Air Services Agreement — between Nigeria’s Minister of Aviation, Festus Keyamo, and Brazil’s Minister of Ports and Airports, Silvio Costa Filhos.

Diplomatic Training Cooperation & Political Consultations — signed by Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu, and Brazil’s Foreign Minister, Mauro Vieira.

Science, Technology, and Innovation Cooperation — by Nigeria’s Minister of Innovation, Science, and Technology, Geoffrey Nnaji, and Brazil’s Luciana Santos.

Trade and Investment Promotion — signed by Ayo Sotinrin, Managing Director of Nigeria’s Bank of Agriculture, and Aluísio Mercadante of Brazil’s National Bank for Economic and Social Development (BNDES).

Looking Ahead

Nigeria is currently Brazil’s 49th largest export destination, with trade volumes reaching $2.1 billion in 2024. Both presidents expressed hope that the new MoUs would significantly boost that figure while deepening ties across strategic sectors.

President Tinubu later attended a state luncheon at the Itamaraty Palace to round off the day’s engagements.

By Haruna Yakubu Haruna