The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security (FMAFS), has signed a Memorandum of Understanding (MoU) with Brazil’s Fundação Getulio Vargas (FGV) to bolster private sector development in fertilizer production, hybrid seed technology, and agricultural finance.
The signing ceremony, held at FGV Headquarters in Rio de Janeiro, Brazil, coincided with the G20 Leaders’ Summit.
The Permanent Secretary of FMAFS, Mr. Temitope Fashedemi, signed on behalf of Nigeria, while the President of FGV, Professor Carlos Ivan Simonsen Leal, represented the Brazilian side.
This agreement represents a significant step forward in the partnership between Nigeria and FGV, the lead implementer of the Green Imperative Project (GIP)—one of the world’s largest agricultural technology transfer initiatives.
Conceived in 2018 as a $1.2 billion collaboration between Nigeria and Brazil, the GIP aims to modernize Nigeria’s agricultural sector by leveraging Brazil’s expertise in tropical agriculture.
Supported by Deutsche Bank, the 10-year project focuses on delivering transformative agricultural technologies and fostering knowledge transfer.
Speaking at the event, Mr. Fashedemi highlighted the importance of the collaboration, stating: “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.”
Over the next five years, the project will identify and support one agribusiness in each of Nigeria’s 774 local government areas with technical and financial resources. This initiative is expected to drive sustainable development and economic growth across the country.
Under the MoU, private-sector-led projects are projected to attract $4.3 billion in investments, targeting fertilizer production, hybrid seed development, and agricultural financing.
Senior officials from Nigeria’s presidency, the FMAFS, and FGV leadership witnessed the signing ceremony, marking a milestone in Nigeria’s journey toward agricultural transformation and enhanced food security.