The Federal Government of Nigeria and Fundação Getulio Vargas (FGV) of Brazil have signed a Memorandum of Understanding (MOU) to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.
According to a statement from the Nigerian Presidency and signed by the Director (Information & Public Relations), Abiodun Oladunjoye, the deal was signed through the Ministry of Agriculture and Food Security.
The statement also disclosed that the MoU was signed on behalf of the government by the Ministry’s Permanent Secretar, Temitope Fashedemi, and the President of FGV, Professor Carlos Leal, at FGV Headquarters in Rio de Janeiro, Brazil, on the sidelines of the G20 Leaders’ Summit.
Conceived in 2018, Oladunjoye noted that the Green Imperative Project 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.
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.
