Nigeria And Brazil Ink Multi-Billion-Dollar Agreement To Transform Agriculture Across 774 LGAs

The Memorandum of Understanding (MoU) between Nigeria and Brazil was signed by the Federal Ministry of Agriculture and Food Security (FMAFS) on behalf of Nigeria and Fundação Getulio Vargas (FGV) for Brazil.

In a statement released on Sunday by Abiodun Oladunjoye, Director of Information and Public Relations at the State House, it was noted that the MoU was formalized on the sidelines of the G20 Leaders’ Summit. Representing the Nigerian government, FMAFS Permanent Secretary Temitope Fashedemi signed the agreement alongside FGV President Professor Carlos Ivan Simonsen Leal at FGV Headquarters in Rio de Janeiro, Brazil.

The initiative, supported by Deutsche Bank, will prioritize fertilizer production, hybrid seed technology, and agricultural financing. According to the statement, the agreement launches a new era of collaboration under the Green Imperative Project (GIP), a $1.2 billion initiative designed to modernize Nigeria’s agricultural sector using Brazil’s expertise in tropical agriculture.

“Since its inception in 2018, GIP has undergone extensive planning and consultations to refine its objectives and implementation strategies,” the statement highlighted. Over the 10-year duration of the project, transformative agricultural technologies and knowledge transfer will be delivered, with the initial five years focused on supporting one agribusiness in each of Nigeria’s 774 local government areas. This effort aims to drive sustainable development and boost economic growth.

“This partnership offers Brazil an opportunity to engage with Nigeria’s thriving agricultural sector,” Fashedemi said during the signing ceremony. “Through FGV, we aim to unlock the potential for private sector investments in critical areas essential to food security.” The MoU is projected to attract $4.3 billion in private sector investments, particularly in fertilizer production, hybrid seed technology, and agricultural financing.

The signing ceremony was attended by senior officials from the Nigerian presidency, representatives of FMAFS, and FGV leadership.