US EditionNigeria: 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.
18 Articles
18 Articles
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.
Petrobras will return to Nigeria soon, says Tinubu
President Bola Tinubu says Petrobras, a Brazilian state-owned oil company, will return to Nigeria soon. Tinubu spoke on Monday at a joint press conference in Brasília during his state visit to Brazil, according to a statement on Tuesday by Bayo Onanuga, his special adviser on information and strategy. The president said Petrobras’ return would reignite economic cooperation in the energy sector between both countries. He, therefore, welcomed …
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