Nigeria’s Ministry of Agriculture and Food Security and Brazil’s Fundação Getulio Vargas have signed a Memorandum of Understanding aimed at revolutionizing agribusiness in all 774 local government areas of Nigeria.
Director of Information and Public Relations, Abiodun Oladunjoye, in a statement described the MoU as a critical step in strengthening Nigeria’s agribusiness capabilities while enhancing global partnerships.
The agreement was formalized at FGV’s headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit. Representing Nigeria was FMAFS Permanent Secretary, Temitope Fashedemi, while Professor Carlos Ivan Simonsen Leal, President of FGV, signed on behalf of the Brazilian institution.
The MoU signals a strategic collaboration under the Green Imperative Project, a $1.2 billion initiative launched in 2018 to modernize Nigeria’s agricultural landscape with Brazilian expertise.
Supported by Deutsche Bank, the GIP focuses on delivering cutting-edge agricultural technologies and knowledge transfer over a ten-year period.
“This partnership provides Brazil with an opportunity to engage with Nigeria’s vibrant and rapidly expanding agricultural sector,” said Fashedemi. “Together with FGV, we aim to unlock private-sector investments critical to achieving food security.”
Over the next five years, the project will prioritize the development of one agribusiness in each local government area, offering technical and financial support.
Key areas of focus include fertilizer production, hybrid seed technology, and agricultural finance. These efforts are projected to attract $4.3 billion in private-sector investment.
Professor Simonsen Leal expressed optimism about the collaboration, emphasizing Brazil’s commitment to sharing its expertise in tropical agriculture.
Senior Nigerian government officials and FGV executives attended the signing ceremony, underscoring the importance of the agreement in fostering sustainable development and economic growth in Nigeria’s agricultural sector.
