The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Brazil’s Fundação Getulio Vargas (FGV) to promote private sector development in fertilizer production, hybrid seed technology, and agricultural finance.
According to a statement from the Nigerian Presidency, signed by the Director of Information and Public Relations, Abiodun Oladunjoye, the agreement was facilitated through the Ministry of Agriculture and Food Security (FMAFS).
The MoU was signed by the Permanent Secretary of FMAFS, Mr. Temitope Fashedemi, and FGV President, Professor Carlos Ivan Simonsen Leal, at FGV’s headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit.
The statement highlighted that this partnership represents a new phase of strategic cooperation between Nigeria and FGV, the lead implementer of the Green Imperative Project (GIP)—one of the largest international initiatives for agricultural technology transfer.
Conceived in 2018, the GIP is a $1.2 billion collaboration between Nigeria and Brazil aimed at modernizing Nigeria’s agricultural sector by leveraging Brazil’s expertise in tropical agriculture. Oladunjoye noted that, since its inception, both parties have held numerous discussions to refine the project’s design and implementation.
Supported by Deutsche Bank, the GIP aims to deliver transformative agricultural technologies and facilitate knowledge transfer over a 10-year period.
In the first five years, the initiative will focus on identifying and supporting agribusinesses across Nigeria’s 774 local government areas with technical and financial resources, fostering sustainable development and economic growth.
“This partnership paves the way for Brazil to engage with Nigeria’s dynamic and rapidly growing agricultural sector. Together with FGV, we are poised to unlock the potential of private sector investment in key areas critical to our food security,” Fashedemi said at the signing ceremony.
Under the MOU, private-sector projects on fertiliser production, hybrid seed technology and agricultural financing are projected to attract $4.3 billion in private-sector investment.
Senior members of Nigeria’s presidency, officials of FMAFS and FGV’s leadership attended the signing ceremony.