The agreements were signed at the Palácio do Planalto in Brasília and witnessed by President Bola Ahmed Tinubu and his Brazilian counterpart, Luiz Inácio Lula da Silva. President Tinubu used the occasion to hail the imminent return of Brazil’s state-owned oil company, Petrobras, to Nigeria—five years after it exited joint ventures in the country.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu underscored Petrobras’ renewed interest as a milestone for energy cooperation between Africa’s largest oil producer and South America’s biggest economy.
“We have the largest gas repository. I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible. I appreciate President Lula’s promise that this will be done quickly,” Tinubu said.
The Nigerian leader also commended Lula for his commitment to revitalising bilateral ties, describing Nigeria as “a virgin economic space, full of opportunities for Brazilian companies.” He further applauded Embraer’s planned service centre in Nigeria, which will support aircraft maintenance and strengthen local aviation capacity.
President Tinubu urged both countries to move beyond symbolic gestures to practical partnerships in renewable energy, food security, technology transfer, and pharmaceuticals. He particularly called for cooperation in generic drug manufacturing, noting Brazil’s expertise in the sector.
Highlighting ongoing economic reforms in Nigeria, Tinubu reassured Brazilian investors of a transparent business climate:
“The reforms I’ve embarked upon have been impactful. It was painful initially, but today the results are blossoming. There will be no more corruption. Businesses no longer need to know the Central Bank Governor before accessing foreign exchange. The door is open.”
In his response, President Lula emphasised the timeliness of the renewed partnership in an era of rising global protectionism.
“At a time when protectionism has returned, Nigeria and Brazil reaffirm their commitment to free trade and productive integration. With the world’s two largest Black-populated nations, there are vast synergies—agriculture, oil and gas, fertilisers, and machinery among them,” Lula said.
He also announced the approval of a direct Lagos–São Paulo flight, to be operated by Air Peace, Nigeria’s largest carrier, as a step to “strengthen the ties between our societies.”
The Five MoUs Signed
- Bilateral Air Services Agreement – signed by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, and Brazil’s Minister of Ports and Airports, Silvio Costa Filhos.
- Diplomatic Training Cooperation – signed by Ambassador Bianca Ojukwu, Nigeria’s Minister of State for Foreign Affairs, and Brazil’s Foreign Minister, Mauro Vieira.
- Political Consultations Agreement – signed alongside the diplomatic training accord.
- Science, Technology, and Innovation Cooperation – signed by Nigeria’s Minister of Innovation, Science, and Technology, Geoffrey Nnaji, and Brazil’s Minister of Science, Technology, and Innovation, Luciana Santos.
- Trade and Investment Promotion (Agriculture Financing) – signed by the Managing Director of Nigeria’s Bank of Agriculture, Ayo Sotinrin, and Brazil’s Minister for the National Bank for Economic and Social Development (BNDES), Aluísio Mercadante.
Trade between the two nations stood at $2.1 billion in 2024, with Nigeria ranking as Brazil’s 49th largest export destination, according to KogiTribune.
Following the signing ceremony, President Tinubu attended a state luncheon at the Itamaraty Palace, reaffirming his administration’s commitment to elevating Nigeria–Brazil relations into a model of South-South cooperation.
