Abuja, May 15, 2025 – Petrobras, the Brazilian oil company, is seeking to return to Nigeria’s oil sector as part of efforts to foster stronger bilateral relationship between the two countries.
The company was formerly in Nigeria, bur closed it operation at Agbami oil field for operational reasons.
Stanley Nkwocha, the Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, disclosed this in a statement on Wednesday.
He said Petrobas had been engaging with the federal government in the bid to return to Nigeria ahead of the 2025 Nigeria-Brazil Strategic Dialogue Mechanism (SDM).
Nkwocha said this development came up during an inter-ministerial review meeting chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja on Wednesday.
He said the meeting was to coordinate Nigeria’s preparations for the second session of the SDM scheduled for June 2025.
Shettima described the presence of six ministers and the Solicitor-General of the Federation at the review meeting as a reflection of the importance attached to Nigeria’s relationship with Brazil.
“We have not maximally capitalised on the fraternity between us and Brazil, but it is better late than never.
“The upcoming SDM presents an opportunity to execute sector-specific Memoranda of Understanding (MOUs) and unlock investment flows,” he said.
The Vice President said 2025 represented a critical moment for Nigeria-Brazil relations, stressing that the convergence of international events provided Nigeria a unique opportunity to advance its interests globally.
“This year is our moment of interface with Brazil. Brazil is hosting numerous global events this year, from the BRICS Summit to the G20 Summit and COP30.
“This convergence provides us with a unique opportunity to advance our interests on the global stage,” he said.
Yusuf Tuggar, the Foreign Affairs Minister, confirmed ongoing engagements with Petrobras.
He said: “Apart from ethanol, which they hope to engage NNPCL for blending, Petrobras is also being actively engaged, and we expect they will form part of the delegation to Nigeria.
“Petrobras is no longer active in Nigeria, but they are very keen on returning. They have expressed interest in frontier acreage in deep waters.”
