Petrobras Eyes Return to Nigeria’s Oil Sector as Strategic Ties with Brazil Deepen
Brazil’s state-owned oil giant, Petrobras, is actively exploring a return to Nigeria’s oil and gas sector, with renewed interest in frontier deepwater acreage as part of its global expansion strategy.
The move was revealed during an interministerial review meeting held Wednesday at the Presidential Villa, Abuja, chaired by Vice President Kashim Shettima, as Nigeria intensifies preparations for the second session of the Nigeria–Brazil Strategic Dialogue Mechanism (SDM), slated for June 2025.
According to Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of the Vice President), the renewed engagement by Petrobras follows years of dormancy after its earlier exit from Nigeria’s Agbami field operations.
“This re-engagement reflects a broader drive to revitalise Nigeria–Brazil relations ahead of the upcoming SDM,” Nkwocha stated.
Shettima: 2025 a Strategic Year for Nigeria–Brazil Relations
Vice President Shettima described the meeting—which included six federal ministers and the Solicitor-General of the Federation—as a testament to the seriousness of Nigeria’s diplomatic and economic ambitions with Brazil.
“We have not maximally capitalised on the fraternity between Nigeria and Brazil. But it is better late than never. The upcoming SDM provides a unique window to sign sector-specific Memoranda of Understanding (MOUs) and attract investment inflows,” Shettima said.
He added that 2025 presents a rare diplomatic alignment with Brazil hosting multiple global events, including the BRICS Summit, G20 Summit, and COP30.
“This convergence of international events presents Nigeria with a strategic platform to push its agenda and interests on the global stage,” Shettima said.
Petrobras in Talks for Deepwater Acreage
Foreign Affairs Minister Yusuf Tuggar confirmed that Petrobras is in high-level discussions with Nigerian authorities and is expected to join the Brazilian delegation visiting Nigeria during the SDM.
“Petrobras has expressed strong interest in returning to Nigeria, specifically in deepwater frontier acreage. Their re-entry could significantly bolster our upstream sector,” Tuggar said.
He also disclosed that Petrobras is exploring partnerships with the Nigerian National Petroleum Company Limited (NNPCL) for ethanol blending initiatives aimed at cleaner energy transition.
12 MOUs Await Ministry of Justice Approval
Tuggar revealed that 12 draft MOUs have already been compiled, spanning critical sectors such as energy, health, agriculture, and culture. These are pending approval from the Ministry of Justice.
The Ministry of Foreign Affairs, coordinating Nigeria’s SDM preparations, is also working with its Brazilian counterpart to ensure the active participation of both government agencies and private sector players.
Cultural and Historical Ties: A Foundation for Deeper Relations
Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, emphasised the historical and ancestral bonds between Nigeria and Brazil.
“Many Brazilians trace their lineage to Nigeria. This shared ancestry is a cultural bridge we must strengthen. We’ve finalised MOUs for audiovisual co-productions, joint art exhibitions, and collaboration around FESTAC at 50 next year,” Musawa said.
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Agricultural and Health Sector Collaborations Advance
Agriculture Minister Abubakar Kyari confirmed MOUs for collaboration in three major research areas: soybean value chains, cassava innovation, and agroforestry systems for climate resilience. These build on the foundations of the existing Green Imperative Project (GIP) signed between both nations.
On health, Coordinating Minister for Health and Social Welfare, Prof. Mohammed Pate, outlined opportunities for joint efforts in universal healthcare, pharmaceutical research, and workforce training.
“Brazil has made great strides in primary health coverage and tropical disease control. We can leverage their expertise to boost Nigeria’s health system, especially in pharmaceutical development and capacity building,” Pate said.
