The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security (FMAFS), has entered a strategic partnership with Brazil’s Fundação Getulio Vargas (FGV) to enhance agricultural productivity and private-sector investment in Nigeria. The Memorandum of Understanding (MoU) was signed during the G20 Leaders’ Summit in Rio de Janeiro, marking a significant step toward transforming Nigeria’s agricultural sector.
Key Focus Areas
The agreement targets three critical areas of Nigeria’s agricultural development:
Fertiliser Production: Boosting local production capacity to reduce reliance on imports.
Hybrid Seed Technology: Introducing advanced seed varieties to increase crop yields and resilience.
Agricultural Finance: Facilitating private-sector investment to modernize agribusiness.
Aims and Goals
The initiative, a continuation of the Green Imperative Project (GIP) launched in 2018, aims to modernize Nigeria’s agricultural sector using Brazilian expertise and advanced technologies. The MoU sets ambitious targets, including:
Driving $4.3 billion in private-sector investment.
Supporting agribusiness development in all 774 local government areas by 2029.
Enhancing food security through knowledge transfer and technological innovation.
Mr. Temitope Fashedemi, Permanent Secretary of FMAFS, highlighted the importance of the collaboration: “This partnership paves the way for Brazil to engage with Nigeria’s dynamic and rapidly growing agricultural sector. Together with FGV, we are poised to unlock the potential of private-sector investment in key areas critical to our food security.” Professor Carlos Ivan Simonsen Leal, FGV President, expressed enthusiasm for fostering sustainable development in Nigeria.
The project will also deliver technical and financial resources to one agribusiness in each local government area, fostering local entrepreneurship and economic growth.
The project’s implementation is supported by Deutsche Bank and will focus on delivering transformative agricultural technologies. Senior officials from Nigeria’s Presidency, FMAFS, and FGV were present at the signing ceremony, underscoring the initiative’s importance.
With this MoU, Nigeria and Brazil are strengthening ties to drive sustainable agricultural development. By leveraging Brazilian expertise, the partnership promises to revolutionize Nigeria’s agribusiness sector, improve food security, and create lasting economic opportunities across the country.
