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Nigeria and Brazil on Monday signed five Memoranda of Understanding (MoUs) covering trade, diplomacy, science, aviation and finance, in a move both countries described as a turning point in their long-standing bilateral relations.
The agreements, witnessed at the Palácio do Planalto in Brasília, were announced at a joint press conference where President Bola Ahmed Tinubu hailed the imminent return of Brazil’s state-owned oil giant, Petrobras, to Nigeria.
According to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu said the resumption of Petrobras’ operations, five years after it halted joint ventures in Nigeria, would reignite economic cooperation in the energy sector.
“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 declared.
The President praised his Brazilian counterpart, Luiz Inácio Lula da Silva, for committing to revitalising the partnership between the two nations.
“Nigeria’s economic space remains a virgin land, full of opportunities for Brazilian companies,” Tinubu said, while acknowledging Embraer’s role in boosting local airline operations through plans for a service centre in Nigeria to support maintenance and repairs.
Reflecting on his past engagements in Brazil, Tinubu urged a shift from symbolic gestures to tangible cooperation.
“Honourable Ministers of both countries, members of the Brazil Business Group, I have listened carefully to my friend, President Lula. We had a lengthy discussion. We talked about history and about African and Brazilian heritage.
“We tried to see why we are not at the level we wanted. We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises. But today we say that is the end of that,” he said.
Tinubu stressed Nigeria’s readiness to partner with Brazil in technology transfer, food security, renewable energy, and manufacturing.
“Today, we are fighting and working hard to bring our sovereignty to the level of expectation that we as a nation, the most populous, the most dynamic country, Nigeria, share with Brazil. We need to share—technology transfer, energy, economy—so that Brazil can continue to widen the opportunities for us to embrace Africa. Africa is the new frontier,” he said.
The President also called for knowledge sharing in pharmaceuticals, saying “we have elevated this promise to the path of reality, as you have seen in various MOUs. I don’t know why the manufacturing of generic drugs, which Brazil has done deeply and far, cannot be in Nigeria.
“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”, President Tinubu said.
Highlighting reforms at home, Tinubu assured Brazilian investors of a new era in Nigeria’s economy.
“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.
“We have the Governor of the Central Bank of Nigeria here. You don’t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses,” he said.
President Lula, in his remarks, described the renewed Brazil–Nigeria engagement as timely in an era of rising protectionism.
“At a time when protectionism and unilateralism have returned, Nigeria and Brazil reaffirm their bet on free trade and productive integration. We continue to be dedicated to building a world of peace, free from hegemonic impositions.
“There are many possibilities for synergy between the world’s two largest countries with Black populations. Agriculture and livestock, oil and gas, fertilisers, aircraft, and machinery, among others, represent wide avenues for cooperation,” he said.
Lula announced the approval of a direct flight linking Lagos and São Paulo, to be operated by Air Peace.
“Increasing the direct connections between Nigeria and Brazil is another essential step to strengthen the ties between our societies. We have approved the launch of a direct flight, to be operated by Nigeria’s largest airline company, Air Peace, between Lagos and São Paulo,” he stated.
The five MoUs signed include: a Bilateral Air Services Agreement by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, and Brazil’s Minister of Ports and Airports, Silvio Costa Filhos.
Also, an agreement on Diplomatic Training Cooperation and an MoU on political consultations were signed by Minister of State for Foreign Affairs of Nigeria, Ambassador Bianca Ojukwu, and her Brazilian counterpart, Ambassador Mauro Vieira.
An MoU on science, technology, and innovation cooperation was signed by Nigeria’s Minister of Innovation, Science, and Technology, Geoffrey Nnaji, and Brazil’s Luciana Santos.
The Managing Director of Nigeria’s Bank of Agriculture, Ayo Sotinrin and Brazil’s Minister for the National Bank for Economic and Social Development (BNDES), Aluísio Mercadante, signed an MOU for cooperation on trade and investment promotion, harmonising efforts to expand agricultural financing, investment, and joint projects.
Nigeria is Brazil’s 49th largest export destination with trade between both countries reaching $2.1 billion in 2024.
Following the agreements, President Tinubu attended a state luncheon hosted at the Itamaraty Palace.
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