Nigeria, Brazil Sign Agreement to Boost Trade, Investment
Petroleo Brasileiro is expanding it's oil production in Nigeria in an effort to increase it's presence in the African oil market. Petrobras has been producing oil in Nigeria for 14 years, and expects to increase production,” Brazilian President Dilma Rousseff said today during a speech in Abuja, Nigeria’s capital. “Petrobras expects to establish an ever-stronger presence here in Nigeria.”
Trade between Brazil, South America’s biggest economy, and Nigeria, Africa’s most populous country, is $9 billion a year. Nigerian President Goodluck Jonathan and Rousseff signed an agreement to boost cooperation on energy, aviation, agriculture, electricity, infrastructure development and defense.This seems like a sound idea to improve the economic well being of two different nations, as well as strengthening Petroleo as a company.
http://www.bloomberg.com/news/2013-02-23/nigeria-brazil-sign-agreement-to-boost-trade-investment.html
This will help all of these economies as well as others. With the added drilling and production of oil that also means that new refineries, pipelines, and wells will have to be built which will also allow more money and jobs to be created and more revenue for those involved.
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