Nigeria, Brazil sign $1bln deal to boost agriculture and food security
Nigeria and Brazil have signed a $1bn agreement focused on strengthening agriculture and food security in Nigeria. The partnership will deploy mechanised farming equipment, training programmes, and service centres to help transform Nigeria's largely subsistence agricultural sector.
A drone view shows ships and containers at the Port of Santos, in Santos, Brazil April 3, 2025.
Much farming in Nigeria is subsistence, and land is owned by families or individuals, which makes large-scale acquisition problematic. Nigeria also imports food for its 200 million-plus population.
'We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables,' says Kasim Shettima, vice president of the Federal Republic of Nigeria
The agreements were signed in Abuja during a visit by Brazil's vice president, Geraldo Alckmin, to Africa's most populous nation.
Shettima told his Brazilian counterpart that reforms embarked upon by President Bola Tinubu have helped reshape Nigeria's economy.
Nigeria is targeting a $1t economy by 2030, with reforms to agriculture, energy, education, and public finance. The country has also asked banks to recapitalise to attract foreign investments.
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