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Nigeria and Brazil ink $1 billion deal to transform agriculture sector
Nigeria and Brazil have signed a $1 billion agreement aimed at boosting agriculture, food security, energy, and defence in Nigeria, according to Vice President Kashim Shettima.
Nigeria and Brazil have signed a $1 billion agreement to enhance agriculture, energy, and defense in Nigeria.
The partnership includes deploying mechanized farming equipment and establishing service centers across Nigeria.
This initiative aims to transition Nigeria's agriculture sector from subsistence-based to large-scale farming.
Nigeria and Brazil have signed a $1 billion agreement aimed at boosting agriculture, food security, energy, and defence in Nigeria, according to Vice President Kashim Shettima.
Speaking on Tuesday during the opening session of the 2nd Nigeria–Brazil Strategic Dialogue Mechanism (SDM) at the Presidential Villa, Abuja, he said the partnership will see both countries deploy over $1 billion to provide mechanised farming equipment, training, and service centres across Nigeria.
'Brazil and Nigeria are not bound by geography, but by a shared dream. Two large, diverse democracies. Two economies with immense natural and human capital. Two nations with the right to dream and the ability to build, ' the Nigerian Vice President noted.
The move is part of a broader push to transform Nigeria's largely subsistence-based agriculture sector. Despite its vast arable land, Nigeria still relies heavily on food imports to feed its population of over 200 million.
'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,'
'This project will create jobs, raise productivity, and help secure Nigeria's ambition to feed itself and others. The Green Imperative is a flagship of this partnership, and one we are determined to deliver, ' he said.
The agreements were signed in Abuja during the official visit of Brazil's Vice President, Geraldo Alckmin, to Africa's most populous country.
The Vice President explained that Nigeria is laying the foundation for a one trillion-dollar economy by 2030, with reforms spanning agriculture, energy, education, and public finance.
Brazil's Vice President, Geraldo Alckmin, emphasized that the growing partnership between Brazil and Nigeria is built on mutual values and focuses on delivering real, impactful results. 'It's a great pleasure to see the significant progress we've made across multiple areas of cooperation,' he stated.
