Petrobras to Return to Nigeria as Tinubu Strengthens Brazil Ties

By Aremu Toyeebaht

President Bola Tinubu on Monday welcomed the imminent return of Brazil’s state-owned oil company, Petrobras, to Nigeria, five years after it suspended joint venture operations. The move is expected to strengthen energy cooperation and attract Brazilian investment to the country.

Speaking at a joint press conference in Brasília during his state visit, Tinubu described Petrobras’ comeback as a major opportunity to tap Nigeria’s vast gas reserves.
“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,” he said.

The President also lauded Brazilian President Luiz Inácio Lula da Silva for his commitment to revitalising bilateral ties, noting that Nigeria remains a fertile ground for investment.
“Our economic space remains a virgin land, full of opportunities for Brazilian companies,” Tinubu added.

Beyond energy, Tinubu highlighted efforts to expand collaboration in the aviation sector, praising Embraer for establishing a service centre in Nigeria to cater to airline maintenance in West Africa.

Reflecting on previous visits to Brazil, the President stressed the need to move beyond symbolic gestures toward tangible economic outcomes. He assured investors that ongoing economic reforms were yielding results.
“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. We have more money for the economy, and there will be no more corruption,” Tinubu declared.

The announcement signals a renewed era of Nigeria-Brazil economic engagement, with energy, aviation, and broader investments set to anchor future cooperation.