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BRASÍLIA — Nigeria and Brazil have signed five Memoranda of Understanding (MoUs) covering trade, aviation, science, finance, and diplomacy, marking a new phase in bilateral relations aimed at translating shared intentions into actionable partnerships.
The agreements were formalized during President Bola Ahmed Tinubu’s state visit to Brazil, where he met with President Luiz Inácio Lula da Silva. Among the key developments was the announcement of Brazilian oil giant Petrobras’s potential return to Nigeria, five years after suspending joint operations. Tinubu described the move as a catalyst for revitalizing Nigeria’s oil and gas sector and unlocking broader economic opportunities.
The leaders also celebrated the signing of a bilateral air service agreement, which will enable direct flights between Lagos and São Paulo, enhancing trade, tourism, and cultural exchange. Additional cooperation was outlined in areas such as technology transfer, food security, pharmaceutical production, and clean energy.
President Tinubu emphasized the importance of building a stronger Global South partnership, stating, “We are opening fresh horizons together, built on a vision of shared prosperity across the Atlantic.”
The visit concluded with renewed commitments to deepen collaboration through the existing Nigeria–Brazil Joint Plan of Action, reinforcing both nations’ roles in shaping a more interconnected and resilient global economy.
President Bola Tinubu and President Lula Da Silva and Team Concluding Bilateral Trade Agreement
