The Ministry of Agriculture and Food Security (FMAFS) has, on behalf of the federal government, signed a Memorandum of Understanding (MoU) with Fundação Getulio Vargas (FGV) of Brazil, (has signed a Memorandum of Understanding MOU) to advance private sector development in fertiliser production, implement 1.2 billion Green Imperative Project (GIP). The partnership, struck at the G20 Leaders’ Summit held recently in Brazil, also seeks to boost hybrid seed technology and agricultural finance.
Represented by the Permanent Secretary of FMAFS, Mr. Temitope Fashedemi, the federal government signed the MoU with the President of FGV, Professor Carlos Ivan Simonsen Leal.
In a statement made available by the special adviser to the president on information and strategy, Mr. Bayo Onanuga on X and signed by the Director of Information and Public Relations Abiodun Oladunjoye, the agreement marks a new phase of strategic collaboration and would enable the GIP lead implementer, one of the largest international agricultural technology transfer initiatives.
Farashedemi said, “Conceived in 2018, GIP is a 1.2-billion-dollar cooperative effort between Brazil and Nigeria, designed to modernise Nigeria’s agricultural sector through Brazilian expertise in tropical agriculture.
“Since the MoU was conceived in 2018, both parties have engaged in many meaningful discussions to advance its design and implementation.
“The project, supported by Deutsche Bank, aims to deliver transformative agricultural technologies and knowledge transfer over its 10-year duration”.
Farashedemi said the project will identify and support agribusiness across the 774 Local Government Areas in Nigeria.
“Over the next five years, the project will identify and support one agribusiness in Nigeria’s 774 local government areas with technical and financial resources, driving 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.
Subsequent content of the signed MOU noted that the private-sector projects on fertiliser production, hybrid seed technology and agricultural financing are projected to attract “$4.3bn in private-sector investment”.
Established in 1944, FGV is a Brazilian institution for higher education and research, with the core mission to foster Brazil’s social and economic progress through education, research, and technical advisory services.
