In a major step towards revolutionising Nigeria’s agricultural sector, the Federal Government has signed a Memorandum of Understanding (MoU) with Fundação Getulio Vargas (FGV) of Brazil.
The partnership aims to boost private sector involvement in fertiliser production, hybrid seed technology, and agricultural financing.
The agreement was formalised by the Permanent Secretary of the Ministry of Agriculture and Food Security (FMAFS), Mr Temitope Fashedemi, and the President of FGV, Professor Carlos Ivan Simonsen Leal, at a ceremony held at FGV Headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit.
A statement from the Nigerian Presidency, signed by Director of Information and Public Relations, Abiodun Oladunjoye, described the pact as a “new phase of strategic collaboration.”
The initiative is part of the Green Imperative Project (GIP), a $1.2 billion cooperative effort conceived in 2018 to modernise Nigeria’s agricultural sector using Brazil’s expertise in tropical agriculture.
The GIP, supported by Deutsche Bank, will span a decade, delivering transformative agricultural technologies and knowledge transfer.
Over the next five years, the project will identify and support agribusinesses across Nigeria’s 774 local government areas, facilitating sustainable development and economic growth.
“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,” Fashedemi said at the signing.
Under the agreement, private-sector projects are expected to attract $4.3 billion in investments, propelling Nigeria’s ambitions for agricultural self-sufficiency and global competitiveness.
Senior Nigerian officials and FGV leadership attended the signing, underscoring the importance of this landmark collaboration.
