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 strengthen private sector development in fertilizer production, hybrid seed technology, and agricultural financing.
The MoU was formalized by the Permanent Secretary of FMAFS, Mr. Temitope Fashedemi, and the President of FGV, Professor Carlos Ivan Simonsen Leal, at FGV Headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit.
This agreement marks a new chapter in the strategic partnership between Nigeria and FGV, the lead implementer of the Green Imperative Project (GIP), one of the largest international agricultural technology transfer initiatives.
Launched in 2018, GIP is a $1.2 billion collaborative effort between Brazil and Nigeria aimed at modernizing Nigeria’s agricultural sector through Brazil’s advanced expertise in tropical agriculture. Over the years, both parties have held numerous consultations to refine the project’s framework and implementation strategies.
Supported by Deutsche Bank, the 10-year project seeks to revolutionize Nigeria’s agricultural sector by delivering cutting-edge agricultural technologies and knowledge transfer. In the first five years, it aims to identify and empower one agribusiness in each of Nigeria’s 774 local government areas with technical and financial support, fostering sustainable development and economic growth.
“This partnership opens up significant opportunities for Brazil to engage with Nigeria’s dynamic and rapidly expanding agricultural sector. Alongside FGV, we are ready to unlock private sector investments in critical areas essential to achieving food security,” said Mr. Fashedemi during the signing ceremony.
The MoU is expected to attract $4.3 billion in private-sector investments in fertilizer production, hybrid seed development, and agricultural financing.
Senior officials from Nigeria’s Presidency, representatives of FMAFS, and members of FGV’s leadership team were present at the signing ceremony, underscoring the importance of this milestone collaboration.
