Federal Government of Nigeria, through the Ministry of Agriculture and Food Security (FMAFS), has entered into a Memorandum of Understanding (MoU) with Brazil’s Fundação Getulio Vargas (FGV) aimed at enhancing agribusiness development across Nigeria’s 774 Local Government Areas.
Gatekeepers News reports that the agreement was formalised at FGV’s headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit. The focus of the collaboration is on fostering private sector growth in several key areas including fertiliser production, hybrid seed technology, and agricultural finance.
Mr. Temitope Fashedemi, the Permanent Secretary of FMAFS, represented Nigeria in signing the MoU, while Professor Carlos Ivan Simonsen Leal, the President of FGV, represented Brazil. Fashedemi emphasised that this partnership will facilitate Brazil’s collaboration with Nigeria’s expanding agricultural sector.
“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.
The MoU is linked to the Green Imperative Project (GIP), a $1.2 billion collaborative initiative launched in 2018 to modernise Nigeria’s agricultural sector using Brazilian expertise in tropical agriculture.
The Green Imperative Project, supported by Deutsche Bank, will deliver transformative agricultural technologies and capacity-building programs over its 10-year duration. Key goals include:
- Empowering one local agribusiness in each of Nigeria’s 774 LGAs will receive technical and financial support over the next five years.
- The project is projected to draw $4.3 billion in private-sector investments in fertiliser production, hybrid seed technology, and agricultural finance.
- Nigeria aims to adopt sustainable agricultural practices and enhance food production to ensure food security.
Professor Leal emphasised Brazil’s commitment, stating, “Brazil is eager to transfer its expertise in tropical agriculture to support Nigeria’s journey towards food security and economic growth.”
