Nigerian government has entered a transformative partnership with Brazil’s Fundação Getulio Vargas (FGV) to revolutionise the country’s agricultural sector.
The Memorandum of Understanding (MoU), signed at the G20 Leaders’ Summit in Rio de Janeiro, focuses on driving innovation and investment in fertiliser production, hybrid seed technology, and agricultural finance across all 774 local government areas in Nigeria.
The agreement was signed by Nigeria’s 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 FGV’s headquarters.
According to a statement issued on Sunday by the State House Director of Information and Public Relations, Abiodun Oladunjoye, the MoU represents a renewed commitment to the Green Imperative Project (GIP), a $1.2 billion initiative launched in 2018 aimed at modernising Nigeria’s agriculture using Brazilian expertise in tropical agriculture.
“This partnership paves the way for Brazil to engage with Nigeria’s dynamic and rapidly growing agricultural sector,” Fashedemi said during the signing ceremony. “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, supported by Deutsche Bank, aims to deliver transformative agricultural technologies and facilitate knowledge transfer to Nigeria over the next decade.
The initiative will identify and support one agribusiness in each local government area, providing both technical and financial resources to promote sustainable growth.
Professor Leal described the partnership as a crucial step towards fostering global collaboration for sustainable agricultural development.
“The MoU is expected to attract $4.3 billion in private investment, particularly in fertiliser production, seed technology, and agricultural finance, helping strengthen food security and position Nigeria as a leader in sustainable agriculture globally.”
