Brazilian state oil company, Petrobras, is seeking a return to Nigeria’s oil sector with a renewed focus on frontier deepwater exploration as part of efforts to strengthen ties between both countries.
In a statement on Wednesday, Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications, announced that the development came during an interministerial review meeting.
The meeting, chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, was held to prepare for the second session of the Nigeria-Brazil Strategic Dialogue Mechanism (SDM) in June 2025.
Petrobras had previously wound down its Nigerian operations at the Agbami Field, but with renewed economic reforms under President Bola Tinubu, the company is now actively engaging Nigerian authorities as it eyes fresh investment opportunities.
Speaking at the session, Vice President Shettima underscored the strategic importance of Nigeria’s relationship with Brazil, especially as Brazil prepares to host a series of global summits this year.
“The presence of six ministers and the Solicitor-General of the Federation in this review meeting ahead of the second session of the Nigeria-Brazil Strategic Dialogue Mechanism shows the importance we have attached to our relationship with Brazil.
“We have not maximally capitalised on the fraternity between us and Brazil, but it is better late than never. The upcoming SDM presents an opportunity to execute sector-specific Memoranda of Understanding (MOUs) and unlock investment flows,” Shettima said.
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Highlighting the significance of 2025 as a pivotal year for global diplomacy, Shettima said, “This year is our moment of interface with Brazil. Brazil is hosting so many global events this year – from the BRICS Summit to the G20 Summit and COP30. This convergence of events provides us with a unique opportunity to advance our interests on the global stage.”
The Vice President also commended the ministers for their renewed vigour and patriotic commitment, stating that “there is a sea change in our attitude, disposition, and commitment.”
Petrobras Reengages
Providing further insight into Petrobras’ return, Minister of Foreign Affairs, Ambassador Yusuf Tuggar, confirmed ongoing discussions with the company.
“Apart from ethanol, which they are hoping to engage the NNPCL for blending, Petrobras is also being actively engaged, and we expect they will form part of the delegation to Nigeria,” Tuggar said.
“Petrobras is no longer active in Nigeria, but they are very keen on coming back. They said they want frontier acreage in deep waters.”
Tuggar added that Brazil’s own preparations for the 2025 SDM are well underway, with both governmental and private sector entities actively mobilised by Brazil’s Vice President.
The Ministry of Foreign Affairs, which is coordinating Nigeria’s interministerial working groups, has compiled 12 draft MOUs awaiting approval by the Ministry of Justice. The draft agreements span key sectors including energy, health, culture, and agriculture.
Sectoral Collaboration Expands
Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, spoke on the shared heritage between both countries.
“We must not only preserve this relationship but deepen it. We’ve finalised MOUs with the Nigerian Film Corporation on audiovisual co-productions, the National Gallery of Arts for joint exhibitions, and the Centre for Black and African Arts and Civilisation ahead of FESTAC at 50 next year,” Musawa stated.
In the agricultural sector, Minister of Agriculture, Senator Abubakar Kyari, announced that MOUs had been concluded on key research collaborations.
“We have finalised MOUs that focus on research in three areas: soybean value chain development, cassava research and technology transfer, and agro-forestry systems, which promote integrated crop-livestock models and climate adaptation,” Kyari explained.
These efforts, he noted, build upon the Green Imperative Project (GIP) – an earlier agricultural cooperation initiative between Nigeria and Brazil.
On the health front, Coordinating Minister of Health and Social Welfare, Professor Muhammad Pate, pointed to Brazil as a model for Nigeria’s ambitions in achieving universal health coverage.
“There are important opportunities for us in several areas in our efforts to achieve universal health coverage and primary health care between Nigeria and Brazil. They have done a lot that we can learn from,” said Pate.
“We see potential for collaboration in pharmaceutical research, local drug manufacturing, and workforce training. Brazil’s experience in addressing tropical and sub-tropical diseases makes it an ideal partner for joint research and development.”
Source: Channels TV
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