By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA AND Brazil have entered a strategic partnership to enhance private sector development in agriculture, focusing on fertiliser production, hybrid seed technology, and agricultural finance.
The agreement was formalised through a Memorandum of Understanding (MOU) signed in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit.
The Permanent Secretary of the Federal Ministry of Agriculture and Food Security (FMAFS), Mr Temitope Fashedemi, and the President of Fundação Getulio Vargas (FGV), Professor Carlos Ivan Simonsen Leal, signed the MOU.
This collaboration builds on the $1.2 billion Green Imperative Project (GIP), a Nigeria-Brazil initiative launched in 2018 to modernise Nigeria’s agriculture using Brazilian expertise.
The agreement is projected to attract $4.3 billion in private-sector investment.
The project aims to support one agribusiness in each of Nigeria’s 774 local government areas over the next five years, delivering technical and financial assistance to drive economic growth and sustainable development.
Supported by Deutsche Bank, the GIP will facilitate knowledge transfer and advanced agricultural technologies across its 10-year span.
At the signing, Mr. Fashedemi highlighted the partnership’s potential, stating, “Together with FGV, we are unlocking private sector investment critical to our food security.”
Senior Nigerian officials, FGV representatives, and members of the presidency attended the ceremony, marking a significant milestone in Nigeria’s agricultural transformation.
