The Nigerian government is gearing up to welcome a high-level delegation from Brazil’s state-owned oil giant, Petrobras, as the South American energy powerhouse signals a return to Nigeria’s oil and gas sector—over a decade after exiting the country.
Petrobras, which began operations in Nigeria in 1998 but sold off its stakes more than ten years ago, is now exploring opportunities in deep offshore oil fields, midstream infrastructure, and even ethanol production.
In May, Foreign Affairs Minister Yusuf Tuggar revealed that discussions had already begun. “Petrobras is no longer active in Nigeria, but they are very keen on coming back. They said they want frontier acreage in deep waters,” Tuggar said, as quoted in a statement from the Vice President’s office.
Confirming preparations for the company’s re-entry, Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, posted on X that talks with the Ministry of Foreign Affairs were advancing.
“Today, I received a delegation from the Ministry of Foreign Affairs, led by its Permanent Secretary, Ambassador Dunoma Umar Ahmed. Our discussions focused on the upcoming visit by a high-level Brazilian delegation, particularly Petrobras,” Ekpo wrote.
He emphasized that Petrobras had expressed interest in Nigeria’s upstream, midstream, and ethanol production space, adding: “I warmly welcome this renewed interest and reaffirm the federal government’s readiness to work with credible investors who share our commitment to sustainable development and mutual economic growth.”
Nigeria is aggressively courting foreign investors as oil production declines, insecurity persists in key regions, and global momentum shifts toward renewable energy.
In parallel, oil major Shell is doubling down on Nigeria. The company announced it would add up to 12 million metric tons of liquefied natural gas (LNG) capacity globally by 2030, including projects underway in Nigeria, Canada, Qatar, and the UAE.
“That is not an ambition. Those are all projects that are currently in construction,” said Shell’s President of Integrated Gas, Cederic Cremers, at the Gas, LNG and the Future of Energy Conference in London.
Shell, already a significant player in Nigeria’s gas sector, also made a $5 billion Final Investment Decision (FID) on the Bonga North deep-water project in December 2024.
As Nigeria presses on with its “Decade of Gas” agenda, the Petrobras comeback and Shell’s expansion signal renewed investor confidence—something the federal government is keen to translate into long-term growth and energy security.
