The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security (FMAFS), has signed a Memorandum of Understanding (MoU) with Fundação Getulio Vargas (FGV) of Brazil to enhance private-sector participation in fertiliser production, hybrid seed technology, and agricultural financing.
The agreement was signed at the FGV Headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit. Representing Nigeria, Mr. Temitope Fashedemi, Permanent Secretary of FMAFS, and Professor Carlos Ivan Simonsen Leal, President of FGV, formalized the partnership, which marks a significant step in fostering bilateral collaboration.
In a statement issued by Abiodun Oladunjoye, Director of Information and Public Relations, State House, the MoU establishes a new phase of strategic cooperation under the Green Imperative Project (GIP).
Described as one of the largest international agricultural technology transfer initiatives, GIP aims to modernize Nigeria’s agricultural sector by leveraging Brazil’s expertise in tropical agriculture.
“The partnership paves the way for Brazil to engage with Nigeria’s dynamic and rapidly growing agricultural sector,” Fashedemi noted during the signing. “Together with FGV, we are poised to unlock the potential of private-sector investment in key areas critical to our food security.”
The Green Imperative Project, a $1.2 billion cooperative venture conceived in 2018, has involved extensive discussions between the two nations to refine its framework and ensure its effective implementation. Supported by Deutsche Bank, the project is set to deliver transformative agricultural technologies over its 10-year span, targeting significant knowledge transfer and capacity building.
According to the statement, the initiative will focus on one agribusiness in each of Nigeria’s 774 local government areas over the next five years, providing both technical and financial resources to foster sustainable development and economic growth.
Under the MoU, private-sector projects related to fertiliser production, hybrid seed technology, and agricultural finance are expected to generate $4.3 billion in investments.
Senior members of Nigeria’s presidency, alongside officials from FMAFS and FGV, were present at the signing ceremony, further emphasizing the significance of the collaboration. This partnership aims to transform Nigeria’s agricultural landscape, creating opportunities for private-sector growth and enhancing the nation’s food security.
