The Nigerian government, through the Ministry of Agriculture and Food Security (FMAFS), has signed a Memorandum of Understanding (MoU) with Brazil’s Fundação Getulio Vargas (FGV) to strengthen agribusiness development. The agreement focuses on fertiliser production, hybrid seed technology, and agricultural financing to support sustainable growth in Nigeria’s agricultural sector.
The MoU was signed in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit by FMAFS Permanent Secretary Temitope Fashedemi and FGV President Professor Carlos Ivan Simonsen Leal. This marks a significant step in the Green Imperative Project (GIP), a $1.2 billion initiative launched in 2018 to modernize Nigeria’s agriculture with Brazilian expertise in tropical farming.
The project, supported by Deutsche Bank, aims to identify and assist one agribusiness in each of Nigeria’s 774 local government areas over the next five years. It will provide technical and financial resources to enhance food security, attract private-sector investment, and drive economic development.
“This partnership opens opportunities for Brazil to collaborate with Nigeria’s growing agricultural sector, unlocking private investment in critical areas vital for food security,” said Fashedemi.
Under the agreement, private-sector investment is expected to reach $4.3 billion in fertilizer production, seed technology, and agricultural financing.
Senior Nigerian officials, FGV leadership, and members of the presidency attended the signing ceremony, emphasizing the strategic importance of this collaboration for both nations.