Nigeria and Brazil have signed five MoUs covering trade, aviation, science, finance, and diplomacy. President Tinubu confirmed Petrobras’ return, while Brazil approved a direct Air Peace flight linking Lagos and São Paulo
Nigeria, Brazil Sign Five MoUs as Tinubu Secures Petrobras’ Return and Direct Lagos–São Paulo Flight
Nigeria and Brazil on Monday strengthened their bilateral ties with the signing of five Memoranda of Understanding (MoUs) across trade, diplomacy, science, aviation, and finance — a move both countries hailed as a turning point in their partnership.
The agreements, signed at the Palácio do Planalto in Brasília and witnessed by President Bola Ahmed Tinubu and his Brazilian counterpart Luiz Inácio Lula da Silva, signal renewed cooperation between Africa’s largest economy and Latin America’s leading nation.
A highlight of the discussions was President Tinubu’s announcement of the imminent return of Petrobras, Brazil’s state-owned oil company, to Nigeria, five years after it suspended operations.
“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. I appreciate President Lula’s promise that this will be done as soon as possible,” Tinubu said.
The Nigerian leader praised Brazil’s Embraer aircraft company for expanding local airline support and confirmed that a direct Air Peace flight from Lagos to São Paulo had been approved by Brazilian authorities.
President Tinubu, recalling past engagements in Brazil, called for a shift from symbolic gestures to tangible cooperation, pledging Nigeria’s readiness to work with Brazil in technology transfer, renewable energy, food security, pharmaceuticals, and manufacturing.
“Nigeria’s economic space remains a virgin land, full of opportunities for Brazilian companies,” he stated.
“I don’t see why the technological superiority of Brazil is not shared with Africa. We assured each other that only we can develop our economies to help our sovereignty.”
Tinubu also used the occasion to highlight ongoing economic reforms in Nigeria, reassuring Brazilian investors of a new transparent business climate:
“The reforms I’ve embarked upon since I took over in Nigeria have been very impactful. It was initially painful, but today the result is blossoming. It’s getting clearer to the people. We have more money for the economy, and there will be no more corruption.”
On his part, President Lula described the renewed engagement as timely, noting:
“At a time when protectionism and unilateralism have returned, Nigeria and Brazil reaffirm their bet on free trade and productive integration. There are many possibilities for synergy between the world’s two largest countries with Black populations.”
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 Agreement and Political Consultations MoU – signed by Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu, and Brazil’s Minister of Foreign Affairs, Mauro Vieira.
Science, Technology, and Innovation Cooperation MoU – signed by Nigeria’s Minister of Innovation, Science, and Technology, Geoffrey Nnaji, and Brazil’s Luciana Santos.
Trade and Investment Promotion MoU – signed by Nigeria’s Bank of Agriculture Managing Director, Ayo Sotinrin, and Brazil’s BNDES Minister, Aluísio Mercadante, aimed at agricultural financing and joint projects.
Bilateral trade between Nigeria and Brazil reached $2.1 billion in 2024, with Nigeria ranked as Brazil’s 49th largest export destination.
The event concluded with a state luncheon hosted by President Lula at the Itamaraty Palace, underscoring a renewed era of partnership between the two nations. Read More
