In a landmark agreement poised to revolutionize Nigeria’s agricultural sector, the Federal Government of Nigeria, through the Ministry of Agriculture and Food Security (FMAFS), has signed a Memorandum of Understanding (MOU) with Brazil’s Fundação Getulio Vargas (FGV). The partnership aims to foster private sector-led development in fertiliser production, hybrid seed technology, and agricultural financing across Nigeria’s 774 local government areas.
The MOU was signed at the FGV Headquarters in Rio de Janeiro, Brazil, by the Permanent Secretary of FMAFS, Mr. Temitope Fashedemi, and the President of FGV, Professor Carlos Ivan Simonsen Leal. The historic event took place on the sidelines of the G20 Leaders’ Summit, underscoring the global significance of this bilateral collaboration.
Advancing the Green Imperative Project (GIP)
This agreement represents a significant milestone in the Green Imperative Project (GIP), one of the world’s most ambitious agricultural technology transfer initiatives. Launched in 2018, GIP is a $1.2 billion cooperative venture between Nigeria and Brazil designed to modernize Nigeria’s agricultural landscape by leveraging Brazil’s expertise in tropical agriculture. Supported by Deutsche Bank, the project is set to span 10 years, delivering transformative technologies and facilitating knowledge exchange.
Under the MOU, the initiative will focus on identifying and supporting one agribusiness in each of Nigeria’s local government areas over the next five years. These enterprises will benefit from technical and financial resources aimed at driving sustainable development and fostering economic growth.
“This partnership paves the way for Brazil to engage with Nigeria’s dynamic and rapidly growing agricultural sector,” said Mr. Fashedemi during the signing ceremony. “Together with FGV, we are poised to unlock the potential of private sector investment in key areas critical to our food security.”
Attracting Billions in Investment
The collaboration is projected to attract $4.3 billion in private-sector investments, focusing on critical areas such as fertiliser production, hybrid seed technology, and agricultural finance. These investments are expected to strengthen Nigeria’s food security, enhance productivity, and create new economic opportunities.
The MOU also reaffirms the strong bilateral ties between Nigeria and Brazil, positioning both nations as global leaders in agricultural innovation and sustainable development.
A High-Level Event
The signing ceremony was attended by senior members of Nigeria’s presidency, top officials of FMAFS, and FGV’s leadership. The event underscores the commitment of both governments to fostering sustainable agriculture and leveraging public-private partnerships to achieve transformative outcomes.
This partnership marks a new chapter in Nigeria’s quest for agricultural self-sufficiency, signaling a brighter future for the country’s farmers and agribusinesses. By harnessing Brazil’s advanced agricultural expertise and resources, Nigeria is set to become a hub for agribusiness innovation and development in Africa.
