The Nigerian government is preparing to welcome a high-level delegation from Brazil’s state-owned oil company, Petrobras, signaling its intent to re-enter the Nigerian oil and gas sector after exiting over a decade ago.

Nigeria’s Foreign Minister Yusuf Tuggar and Petroleum Resources Minister Ekperikpe Ekpo highlighted ongoing discussions focused on opportunities in upstream, midstream, and ethanol production, underscoring the federal government’s readiness to collaborate with credible investors.

Petrobras initially began operations in Nigerian deep waters in 1998 but sold its stakes to fund domestic projects; its return comes as Nigeria seeks investment amid declining oil production and global shifts away from fossil fuels.

Shell also plans significant LNG capacity expansion, including projects in Nigeria, emphasizing the country’s strategic role in global gas supply and the government’s push to leverage natural gas as a transitional energy source.