{"id":884,"date":"2025-08-28T09:21:00","date_gmt":"2025-08-28T09:21:00","guid":{"rendered":"https:\/\/tona.today\/?p=884"},"modified":"2025-08-28T00:26:50","modified_gmt":"2025-08-28T00:26:50","slug":"tinubu-lula-sign-five-mous-as-petrobras-returns-to-nigeria","status":"publish","type":"post","link":"https:\/\/tona.today\/?p=884","title":{"rendered":"Tinubu, Lula sign five MoUs as Petrobras returns to Nigeria"},"content":{"rendered":"\n<p>Brazilian state-owned oil giant Petrobras is set to resume operations in Nigeria five years after it exited joint venture activities in the country, following the signing of five strategic Memoranda of Understanding (MoUs) between Nigeria and Brazil to strengthen trade, diplomacy, science, aviation, and finance cooperation.<\/p>\n\n\n\n<p>The announcement was made during President Bola Tinubu\u2019s State Visit to Brazil, where he met with Brazilian President Luiz In\u00e1cio Lula da Silva.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Tems - Love Me JeJe (Official Video)\" width=\"980\" height=\"551\" src=\"https:\/\/www.youtube.com\/embed\/Y_NTooezadU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>President Tinubu at a joint press conference in Bras\u00edlia said Petrobras\u2019 return would reignite economic cooperation in the energy sector between the two countries.<\/p>\n\n\n\n<p>\u201cWe have the largest gas repository. So I don\u2019t see why Petrobras doesn\u2019t join as a partner in Nigeria as soon as possible. I appreciate President Lula\u2019s promise that this will be done as soon as possible,\u201d Tinubu said.<\/p>\n\n\n\n<p>Tinubu praised President Lula\u2019s commitment to revitalising the partnership between the two countries, noting that Nigeria\u2019s economic space remains a virgin land, full of opportunities for Brazilian companies.<\/p>\n\n\n\n<p>He also praised Brazilian aircraft manufacturer Embraer for its growing footprint in Nigeria, particularly its plans to establish a regional service hub to support the country\u2019s growing airline industry.<\/p>\n\n\n\n<p>Tinubu recalled his previous engagements in Brazil and emphasised the urgency of moving beyond symbolic ties to concrete economic cooperation.<\/p>\n\n\n\n<p>He said; \u201cHonourable Ministers of both countries, members of the Brazil Business Group, I have listened carefully to my friend, President Lula. We had a lengthy discussion. We talked about history and about African and Brazilian heritage.<\/p>\n\n\n\n<p>\u201cWe tried to see why we are not at the level we wanted. We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises. But today we say that is the end of that.<\/p>\n\n\n\n<p>\u201cThis is my third visit to the country. First, the visit to attend the G20. Second, on climate change, BRICS. And today, an official and state visit was very emotional.\u201d<\/p>\n\n\n\n<p>Tinubu also noted Nigeria\u2019s readiness to partner with Brazil on technology transfer, food security, manufacturing, and renewable energy.<\/p>\n\n\n\n<p>He added; \u201cToday, we are fighting and working hard to bring our sovereignty to the level of expectation that we as a nation, the most populous, the most dynamic country, Nigeria, share with Brazil. We need to share\u2014technology transfer, energy, economy\u2014so that Brazil can continue to widen the opportunities for us to embrace Africa. Africa is the new frontier.<\/p>\n\n\n\n<p>\u201cThere is no other way to do it than to embrace it with technology, fast development, research, food sovereignty, and manufacturing.\u201d<\/p>\n\n\n\n<p>The president also stressed the need for investment and knowledge exchange on healthcare and pharmaceuticals, stating that \u201cWe have elevated this promise to the path of reality, as you have seen in various MOUs. I don\u2019t know why the manufacturing of generic drugs, which Brazil has done deeply and far, cannot be in Nigeria.<\/p>\n\n\n\n<p>\u2018I don\u2019t see why the technological superiority of Brazil is not shared with Africa. We assured each other that only we can develop our economies to help our sovereignty.\u201d<\/p>\n\n\n\n<p>On domestic reforms, Tinubu assured Brazilian investors that Nigeria\u2019s economic transformation is yielding results, noting that \u201cthe reforms I\u2019ve embarked upon since I took over in Nigeria have been very impactful. It was initially painful, but today the result is blossoming.\u201d<\/p>\n\n\n\n<p>\u201cIt\u2019s getting clearer to the people. We have more money for the economy, and there will be no more corruption. We have the governor of the Central Bank of Nigeria here. You don\u2019t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses,\u201d he added. <a href=\"https:\/\/guardian.ng\/news\/tinubu-lula-sign-five-mous-as-petrobras-returns-to-nigeria\/\">(Guardian)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brazilian state-owned oil giant Petrobras is set to resume operations in Nigeria five years after it exited joint venture activities in the country, following the signing of five strategic Memoranda of Understanding (MoUs) between Nigeria and Brazil to strengthen trade, diplomacy, science, aviation, and finance cooperation. The announcement was made during President Bola Tinubu\u2019s State [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[262,66,574,1102,424,1101],"class_list":["post-884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-bola-tinubu","tag-brazil","tag-luiz-inacio-lula-da-silva-2","tag-memoranda-of-understanding","tag-nigeria","tag-petrobras"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tinubu, Lula sign five MoUs as Petrobras returns to Nigeria - Tona Today<\/title>\n<meta name=\"description\" content=\"Brazilian state-owned oil giant Petrobras is set to resume operations in Nigeria five years after it exited joint venture activities\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tona.today\/?p=884\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu, Lula sign five MoUs as Petrobras returns to Nigeria - 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