Nigeria, Brazil Sign $1.1bn Deal on Food Production
Nigeria and Brazil, on Monday signed the commercial phase of the 1.1 billion dollars Green Imperative Project (GIP) to boost agriculture productivity and enhance private-sector investment in Nigeria.
GIP is the largest agricultural project in Africa which prioritises the development of sustainable, low-carbon agriculture. It aims to develop structural conditions to boost food production in Nigeria in an efficient and competitive manner.
The MoU for the 1.1 billion dollars GIP 1 was signed in 2018, while the 4.3 billion dollars phase 2 of the project and the $2.5 billion JBS were signed in Brazil during President Bola Ahmed Tinubu’s visit to that country in 2024.
Speaking during the signing of the commercial phase of the GIP 1, at the Presidential Villa, Abuja, Vice-President Kashim Shettima said it was part of ongoing efforts of President Bola Tinubu’s administration to enhance food security.
Shettima said the GIP would leverage on strategic opportunities to drive the nation’s economic growth and boost investors’ confidence. “As this administration addresses the food security challenges, it is also delivering the 8-point agenda of President Bola Tinubu.
“It is imperative for us to synergise and use existing initiatives such as the GIP for the purposes of policy continuity, utilising or leveraging on strategic opportunities to drive our economic growth.
” This is with a view to enhancing investors’ confidence,” he said. Shettima noted that while the GIP aligned with all the policies and programmes of the Tinubu’s administration, it would link small-scale farmers with all the agricultural value chains in the country.
” We have been battling with low agricultural productivity for decades, and as I have always said, entrepreneurial capitalism is embedded in the very psyche of the average Nigerian.
“What our people are lacking is the wherewithal to be placed on the first ladder of development.
“This GIP is a wonderful opportunity because it seamlessly aligns with all the policies and programmes of this government.
“It’s a private sector driven initiative that targets the small-scale farmers and links them up with all the agricultural value chains,” Shettima said.
He added: “To me, today, is a highpoint of our leadership in this country. Yes, we have started seven years behind, but the journey of a thousand miles begins with a step.
“2025 as rightly captured by His Excellency, the Brazilian Ambassador to Nigeria, is a milestone year in our journey towards food security and diversification of our nation’s economy.”
The Vuce President commended the Ministers of Agriculture, Finance and Coordinating Minister of the Economy, Foreign Affairs, Justice and Attorney General of the Federation, among others, for the success of the project.
The Ambassador of Brazil to Nigeria, Carlos Garcete, said it was a great honour for Brazil to associate with the GIP.
” Over the past seven years, there has been negotiation with the Nigerian government to obtain the necessary funds from private and regional development banks to finance this ambitious project, which is worth approximately 1.1billion dollars,” he said.
Garcete noted that the project would allow for the importation of agricultural equipment such as tractors, spare parts while assembling of the machines will be done in Nigeria with the Nigerian labour.
Garcete stressed, “in the event of breakdown of any tractor, it will be possible to carry out any repairs here in Nigeria by the personnel who will be trained by GIP.”
Gov. Umar Namadi of Jigawa, expressed delight over the signing of the agreement noting, “for us at the sub-national, it is a very important day for us because agriculture plays important role in the economy of the country.”
He noted that the signing of the agreement underscored the high level commitment of the Tinubu’s administration in improving and transforming agriculture in Nigeria.
“This commitment is demonstrated from the highest level, from the President to the Vice President and I think those of us at the sub-national have nothing to do except to toe the line,” he said
Gov. Hyacinth Alia of Benue, said the state, being the food basket of the nation, is the happiest among the sub-nationals to witness the signing of the agreement.
He assured that the state government would give full support to the success of the project. The Minister of Foreign Affairs, Amb. Yusuf Tuggar, said the agreement is a good example of the South-South Cooperation between Nigeria and Brazil.
He said both countries are very passionate about the project, considering what Brazil had achieved and how it turned a barren savannah into one of the prolific agriculture site in the world. #Nigeria, Brazil Sign $1.1bn Deal on Food Production PZ Cussons Minority Shareholders Reject Debt-to-Equity Conversion
