Petrobras’s return marks new era of cooperation, says Tinubu as Nigeria signs 5 MoUs With Brazil
In a significant development for Nigeria’s energy sector, President Bola Ahmed Tinubu announced the anticipated return of Petrobras, Brazil’s state-owned oil company, after a five-year hiatus from joint ventures in the country.
Speaking at a joint press conference in Brasília during his state visit to Brazil, Tinubu expressed optimism, stating, “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.”
This announcement aligns with the signing of five Memoranda of Understanding (MoUs) aimed at enhancing trade, diplomacy, science, aviation, and finance cooperation between Nigeria and Brazil.
Tinubu praised President Lula’s commitment to revitalizing the partnership, adding that Nigeria’s economic landscape “remains a virgin land, full of opportunities for Brazilian companies.”
Reflecting on their discussions, Tinubu emphasized the urgency of turning symbolic ties into concrete economic benefits.
“We have allowed some problems and activities in the past to deter us,” he said, urging both countries to focus on future collaboration. “This is my third visit to the country… but today we say that is the end of that.”
Highlighting potential areas of cooperation, he mentioned Nigeria’s readiness to work with Brazil on technology transfer, food security, manufacturing, and renewable energy.
“Africa is the new frontier,” Tinubu affirmed, emphasizing the need for technological exchange to foster development across the continent.
He reassured investors about Nigeria’s ongoing economic reforms, declaring, “The reforms I’ve embarked upon since I took over in Nigeria have been very impactful. There will be no more corruption.”
In response, President Lula echoed these sentiments, remarking on the renewed commitment to free trade and integration between the nations.
“We continue to be dedicated to building a world of peace, free from hegemonic impositions,” he stated.
Following a robust two-hour bilateral meeting, the leaders witnessed the signing of key agreements, including a Bilateral Air Services Agreement aimed at boosting trade and direct connections between Nigeria and Brazil, signaling a promising new chapter in their bilateral relations.
Source: LEADERSHIP
