Tinubu, Lula Strengthen Nigeria-Brazil Partnership as Petrobras Considers Energy Return

President Bola Tinubu has met with Brazilian President Luiz Inácio Lula da Silva to reinforce economic, diplomatic, and industrial cooperation between Nigeria and Brazil, with special focus on energy, trade, agriculture, and technology.

The high-level engagement follows earlier agreements signed during the Second Nigeria–Brazil Strategic Dialogue held in Abuja in June 2025, where both governments formalized at least seven Memoranda of Understanding (MoUs). The agreements cover defense collaboration, energy cooperation, tourism development, audiovisual co-production, livestock and agriculture, and joint efforts against narcotics trafficking. In addition, a $1 billion bilateral deal was sealed to expand mechanized farming and strengthen food security through technology sharing and capacity building.

A key topic in the latest meeting was the renewed interest of Brazilian state-owned oil giant Petrobras in re-entering Nigeria’s deepwater oil sector. According to Reuters, Petrobras is shifting its international focus to Africa, with Nigeria viewed as a major partner for exploration and production growth. Although no formal operational restart has been confirmed, both leaders expressed readiness to fast-track negotiations to deepen energy ties.

President Tinubu assured Brazilian investors that Nigeria’s ongoing economic reforms are opening the market, improving transparency in foreign exchange transactions, and boosting investor confidence. “We have undertaken painful but necessary changes to reposition our economy,” Tinubu said. “Businesses no longer need connections to access foreign exchange. The door is now open to transparent and fair investment opportunities.”

He also praised Brazilian aircraft manufacturer Embraer’s growing footprint in Nigeria and highlighted opportunities for further collaboration in aviation support services, renewable energy, pharmaceuticals, and manufacturing.

President Lula welcomed Nigeria’s renewed commitment to strengthening bilateral relations, noting the shared heritage between both nations and their strategic potential in South-South cooperation. He emphasized the need to move beyond symbolic diplomacy toward concrete industrial partnerships, joint research, and technology transfer that could benefit both economies.

Both leaders reiterated that Africa represents the next global growth frontier, and Nigeria, as the continent’s largest economy, is well positioned to partner with Brazil to unlock new trade and investment corridors.