Nigeria and Brazil Strengthen Ties with New Agreements and Direct Flights
Nigerian President Bola Tinubu and Brazilian President Lula have reaffirmed their commitment to strengthening economic cooperation between the two countries. During President Tinubu’s state visit to Brazil, the two nations signed five Memoranda of Understanding (MoUs) to enhance trade, diplomacy, science, aviation, and finance cooperation.
The agreements aim to revitalize the partnership between Nigeria and Brazil, with a focus on areas such as technology transfer, food security, manufacturing, and renewable energy. President Tinubu emphasized the importance of moving beyond symbolic ties to concrete economic cooperation, highlighting Nigeria’s readiness to partner with Brazil in these key sectors.
One of the significant outcomes of the visit is the imminent return of Petrobras, Brazil’s state-owned oil company, to Nigeria after a five-year absence. President Tinubu welcomed the move, stating that Petrobras’ return would reignite economic cooperation in the energy sector between the two countries.
In addition to the MoUs, a Bilateral Air Services Agreement was signed, paving the way for direct flights between Nigeria and Brazil. Air Peace, Nigeria’s largest airline, will operate direct flights from Lagos to São Paulo, increasing connectivity and trade between the two nations.
The trade relationship between Nigeria and Brazil is significant, with Nigeria being Brazil’s 49th largest export destination. In 2024, trade between the two countries totaled nearly $2.1 billion, with Brazil exporting almost $1 billion to Nigeria and importing $1.1 billion, primarily fertilizers.
The strengthened ties between Nigeria and Brazil are expected to have a positive impact on the economies of both countries. President Tinubu assured investors that Nigeria’s economic reforms are yielding results, making it an attractive destination for investment and trade. With the new agreements and direct flights in place, the stage is set for increased cooperation and economic growth between Nigeria and Brazil.
