President Bola Tinubu has announced the partnership of Nigeria and Brazil in a renewed push for economic cooperation, highlighted by the return of Brazilian oil giant Petrobras to Nigeria. The announcement came during his state visit to Brasília, where both nations signed five bilateral agreements covering trade, finance, aviation, science, and diplomacy.
President Tinubu explained that Petrobras’ comeback will boost collaboration in the energy sector, stressing Nigeria’s vast gas reserves as a major attraction for investment. He also pointed to the growing presence of Brazilian aircraft manufacturer Embraer, which is planning a regional service hub to support Nigeria’s aviation industry.
President Tinubu and President Lula da Silva, during the visit, agreed on the need to translate long-standing diplomatic ties into concrete projects that drive trade and development.
