President Bola Ahmed Tinubu has announced the imminent return of Petrobras, Brazil’s state-owned oil company, to Nigeria after a five-year hiatus, marking a significant step in strengthening energy cooperation between the two nations.
During his State Visit to Brazil, President Tinubu and Brazilian President Luiz Inácio Lula da Silva witnessed the signing of key agreements to deepen collaboration in energy, science and technology, agriculture, diplomatic training, and trade financing. The visit also saw the approval of a direct flight between Lagos and São Paulo, to be operated by Air Peace, under a new Bilateral Air Services Agreement, a move expected to boost trade and strengthen people-to-people connections.
President Tinubu emphasized Nigeria’s readiness for technology transfer, renewable energy partnerships, manufacturing, and healthcare innovation, while assuring investors that economic reforms are delivering results, enhancing transparency, and restoring market confidence. President Lula described the agreements as a renewed partnership between two of the world’s largest Black-populated nations, highlighting opportunities across agriculture, oil and gas, aviation, and industrial development.
The engagement reinforces Nigeria’s position as Africa’s gateway for trade and investment, aligning with the Renewed Hope Agenda’s drive for global partnerships and economic sovereignty.
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