The Nigerian government, through the Ministry of Agriculture and Food Security (FMAFS), has signed a landmark Memorandum of Understanding (MoU) with Brazil’s Fundação Getulio Vargas (FGV) to enhance fertilizer production, hybrid seed technology, and agricultural financing. The agreement was formalized at FGV Headquarters in Rio de Janeiro during the G20 Leaders’ Summit, with FMAFS Permanent Secretary Temitope Fashedemi and FGV President Carlos Ivan Simonsen Leal representing both parties.
This collaboration advances the Green Imperative Project (GIP), a $1.2 billion initiative launched in 2018 to modernize Nigeria’s agriculture using Brazil’s expertise in tropical farming. As one of the world’s largest agricultural technology transfer programs, GIP aims to deliver transformative solutions, including cutting-edge technologies and knowledge-sharing, over its 10-year timeline.
With financial backing from Deutsche Bank, the project will focus on empowering agribusinesses in Nigeria’s 774 local government areas over the next five years. Each selected enterprise will receive targeted technical and financial support to drive sustainable development, improve food security, and stimulate economic growth in rural communities.
Temitope Fashedemi highlighted the strategic importance of the MoU, stating, “This partnership allows us to leverage Brazil’s advanced agricultural practices to unlock Nigeria’s agribusiness potential and attract private sector investment in critical areas.”
The agreement is expected to attract $4.3 billion in private-sector investments, significantly boosting Nigeria’s agricultural landscape. The signing ceremony was attended by senior officials from Nigeria’s presidency, the Ministry of Agriculture, and FGV leadership, underscoring the high-level commitment to this initiative.
