Brazil’s state-owned oil giant, Petrobras, is seeking a return to Nigeria’s energy sector with a renewed focus on frontier deepwater exploration, as part of wider efforts to strengthen bilateral ties between the two nations.
The development was revealed during an interministerial review meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, ahead of the second session of the Nigeria-Brazil Strategic Dialogue Mechanism (SDM) scheduled for June 2025.
According to a statement from Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications, Petrobras—having previously exited operations at the Agbami Field—is now exploring fresh investment opportunities under Nigeria’s new economic reforms.
Vice President Shettima emphasised the strategic importance of Nigeria’s relationship with Brazil, particularly as the South American country prepares to host a series of major global summits this year.
“The presence of six ministers and the Solicitor-General at this review meeting reflects the seriousness with which we view our engagement with Brazil,” Shettima noted.
He acknowledged that Nigeria had not fully capitalised on its long-standing ties with Brazil, but stressed that the upcoming SDM presented an opportunity to sign sector-specific Memoranda of Understanding (MOUs) and unlock new investment channels.
“2025 is a pivotal year for global diplomacy. Brazil will be hosting the BRICS Summit, G20, and COP30—all of which provide us with platforms to advance our interests,” he added.
Petrobras Reengages Nigeria
Minister of Foreign Affairs, Ambassador Yusuf Tuggar, confirmed that discussions are underway with Petrobras, which has expressed keen interest in acquiring new deepwater frontier acreage.
“Apart from their interest in ethanol blending with NNPCL, Petrobras is also re-engaging actively with Nigerian authorities. They are very keen to return,” Tuggar stated.
He further revealed that Brazil’s preparations for the SDM are progressing steadily, with both governmental and private stakeholders mobilised by Brazil’s Vice President.
Nigeria, through the Ministry of Foreign Affairs, has compiled 12 draft MOUs across strategic sectors including energy, agriculture, culture, health, and more—all currently awaiting vetting by the Ministry of Justice.
Expanding Sectoral Collaboration
Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, spoke on shared heritage and cultural ties, revealing that several MOUs have been concluded, including audiovisual co-productions and joint art exhibitions in anticipation of FESTAC at 50.
In agriculture, Minister Abubakar Kyari said agreements have been reached on joint research in cassava, soybean development, and agro-forestry systems that support climate resilience and integrated farming.
Professor Muhammad Pate, Coordinating Minister of Health and Social Welfare, identified Brazil as a model in health system development, highlighting areas of collaboration such as pharmaceutical research, local drug manufacturing, and workforce training.
Also in attendance were the Minister of Livestock Development, Idi Mukhtar Maiha, and the Minister of Environment, Balarabe Lawal, both of whom reaffirmed their commitment to enhancing Nigeria’s strategic engagement with Brazil.