Nigeria-Brazil Talks: Petrobras Plots Deepwater Reentry
News Brazil’s state-owned oil company, Petrobras, is exploring a return to Nigeria’s oil sector, with a renewed focus on acquiring frontier deepwater acreage, in what officials describe as part of a broader push to deepen strategic cooperation between the two nations.
The development emerged during an interministerial review meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, on Wednesday. The meeting was convened to align Nigeria’s preparations for the upcoming second session of the Nigeria-Brazil Strategic Dialogue Mechanism (SDM) scheduled for June 2025.
Petrobras, which previously exited Nigeria after its involvement in the Agbami oil field, is now in discussions with Nigerian authorities, signaling strong interest in the country’s offshore energy potential amid ongoing economic reforms under President Bola Tinubu’s administration.
Vice President Shettima underscored the strategic importance of the renewed engagement with Brazil, particularly as the South American nation prepares to host three major global events next year — the BRICS Summit, the G20 Summit, and the COP30 climate conference.
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“We have not maximally capitalised on our fraternity with Brazil, but it is better late than never,” Shettima stated. “This convergence of global events provides a unique opportunity to advance Nigeria’s interests on the international stage.”
He praised the presence of six ministers and the Solicitor-General at the meeting as a strong signal of commitment, describing it as evidence of a “sea change in our attitude, disposition, and commitment to national interests.”
Foreign Affairs Minister, Ambassador Yusuf Tuggar, confirmed that Petrobras is in active talks with the Nigerian National Petroleum Company Limited (NNPCL) and is expected to be part of the Brazilian delegation to Nigeria. “They’ve made it clear they want frontier acreage in deep waters,” Tuggar said.
He also noted Brazil’s preparations for the SDM are far advanced, with public and private sector actors coordinated by the Brazilian Vice President already engaged in pre-dialogue consultations.
The Nigerian side has prepared at least 12 draft Memoranda of Understanding (MOUs), pending legal review, spanning areas including energy, health, culture, agriculture, and more.
Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, spoke of the historical and ancestral bonds between the two nations, noting that many Brazilians trace their roots to Nigeria. She detailed cultural agreements, including audiovisual collaborations and art exhibitions planned ahead of FESTAC at 50 in 2025.
On agriculture, Minister Abubakar Kyari highlighted MOUs targeting cassava and soybean value chains, agroforestry systems, and climate adaptation — building on the Nigeria-Brazil Green Imperative Project.
Health and Social Welfare Minister, Professor Muhammad Pate, noted Brazil’s leadership in universal health coverage as a model Nigeria can learn from. He outlined potential collaborations in pharmaceutical research, drug manufacturing, and human capital development in health.
Other attendees included the Minister of Environment, Balarabe Lawal, and the Minister of Livestock Development, Idi Mukhtar Maiha, all of whom echoed the urgent need to seize the opportunity for expanded bilateral cooperation.
With Petrobras poised to re-enter Nigeria’s oil sector and multiple MOUs nearing finalisation, both nations appear primed to elevate their strategic partnership in a year of global diplomatic convergence.
