Nigeria and Brazil’s Fundação Getulio Vargas (FGV) have signed a Memorandum of Understanding (MoU) to advance agribusiness in Nigeria, with a focus on fertiliser production, hybrid seed technology, and agricultural finance.
The MoU, signed by Nigeria’s Ministry of Agriculture and Food Security (FMAFS) and FGV, aims to enhance private sector development in Nigeria’s agricultural sector across all 774 local government areas (LGAs) by 2029. This collaboration is expected to drive transformative growth in the country’s agribusiness landscape.
The agreement was formalized at FGV’s headquarters in Rio de Janeiro, Brazil, during the G20 Leaders’ Summit, with FMAFS Permanent Secretary Mr. Temitope Fashedemi and FGV President Professor Carlos Ivan Simonsen Leal signing the MoU on behalf of their respective institutions.
This initiative builds upon the Green Imperative Project (GIP), a $1.2-billion partnership between Brazil and Nigeria, launched in 2018 to modernize Nigeria’s agricultural sector using Brazilian expertise in tropical agriculture. The GIP aims to deliver agricultural technologies and knowledge transfer over a 10-year period, with significant backing from Deutsche Bank.
As part of the MoU, the project will identify and support one agribusiness in each of Nigeria’s 774 LGAs over the next five years, providing both technical and financial resources to foster sustainable development and economic growth.
Mr. Fashedemi emphasized the importance of this partnership in unlocking the potential of Nigeria’s agricultural sector, noting, “This collaboration with FGV paves the way for Brazil to engage more deeply with Nigeria’s dynamic agricultural industry, driving food security and private-sector investment.”
The MoU also foresees $4.3 billion in private-sector investment to support key projects in fertiliser production, hybrid seed technology, and agricultural financing, which will further enhance Nigeria’s agricultural capabilities.
The signing ceremony was attended by senior Nigerian officials, FMAFS representatives, and FGV leadership.
