The Federal Government of Nigeria and Brazil’s Fundação Getulio Vargas (FGV) have signed a significant Memorandum of Understanding (MoU) aimed at advancing private sector development in Nigeria’s agricultural sector.
The agreement, which focuses on fertiliser production, hybrid seed technology, and agricultural finance, was finalized through Nigeria’s 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, on the sidelines of the G20 Leaders’ Summit.
According to a statement from the Nigerian Presidency, the partnership marks a new phase in Nigeria’s collaboration with FGV, the lead implementer of the Green Imperative Project (GIP)—one of the world’s largest international agricultural technology transfer initiatives.
Launched in 2018, the $1.2 billion Green Imperative Project aims to modernize Nigeria’s agricultural sector by leveraging Brazilian expertise in tropical agriculture. Over the next decade, the project will introduce cutting-edge technologies and knowledge transfer to boost productivity and sustainability.
Speaking at the signing ceremony, Mr. Fashedemi emphasized the significance of the partnership for Nigeria’s agricultural future. “This collaboration opens the door for private sector engagement in Nigeria’s fast-growing agribusiness sector, with Brazil’s expertise playing a pivotal role in driving food security and economic development,” he said.
Under the terms of the MoU, the focus will be on fostering private-sector projects in fertiliser production, hybrid seed technology, and agricultural financing, with an estimated $4.3 billion in investment projected to flow into these critical areas. Over the next five years, the initiative will support agribusinesses across Nigeria’s 774 local government areas, driving sustainable growth and strengthening food security.
The agreement also enjoys support from Deutsche Bank, which is backing the project’s financing and technical development. Senior officials from Nigeria’s Presidency, FMAFS, and FGV attended the event, marking the beginning of what is expected to be a transformative partnership for Nigeria’s agricultural sector.
