Nigeria’s President Bola Tinubu has announced that Brazil’s state-run oil giant Petrobras could soon resume operations in the country, marking a major boost for Nigeria’s energy sector after years of underinvestment and oil theft.
Speaking in Brasília on Tuesday alongside Brazilian President Luiz Inácio Lula da Silva, Tinubu said Nigeria’s vast gas reserves and ongoing reforms make it a prime destination for Petrobras’s return.
“We welcome Petrobras back to Nigeria. With our reforms and investment climate, there has never been a better time for cooperation between our nations,” Tinubu said.
The two leaders signed agreements spanning energy, aviation, trade, science, and finance. A key highlight is a new direct flight route between Lagos and São Paulo, to be operated by Nigeria’s Air Peace. In addition, Brazilian aerospace firm Embraer will establish a service center in Nigeria.
