Nigeria, Brazil sign MoU on $1.1bn agriculture project

Nigeria and Brazil have signed the commercial phase of the $1.1 billion green imperative project (GIP), which aims to enhance agricultural productivity and attract private-sector investment to strengthen food security in the country.

The agreement was signed on Monday at the presidential villa in Abuja, according to a statement by Stanley Nkwocha, senior special assistant to the vice-president on media and communications.

Nkwocha said the development is part of broader efforts by President Bola Tinubu’s administration to address food security challenges in the country.

“GIP, the largest agricultural project in Africa that prioritises the development of sustainable, low-carbon agriculture, aims to develop structural conditions to boost food production in Nigeria in an efficient and competitive manner,” the statement reads.

“The MoU for the $1.1 billion GIP 1 was signed in 2018, while the $4.3 billion 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 last year, all amounting to the tune of approximately $8 billion.”

Speaking during the signing ceremony, Vice-President Kashim Shettima, said the GIP will leverage on strategic opportunities to drive the nation’s economic growth and boost investor confidence.

He described the project as a “strategic initiative” that aligns with the government’s eight-point agenda, noting that it would play a key role in linking small-scale farmers with the agricultural value chain.

“As this administration addresses the food security challenges we are facing and dovetails the 8-point agenda of President Bola Ahmed Tinubu, it is imperative for us to synergise and use existing initiatives such as the GIP for the purpose of policy continuity, for the purpose of utilising or leveraging on strategic opportunities to drive our economic growth and also to enhance investor confidence,” Shettima was quoted as saying.

“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 farmer and links him up with all the agricultural value chains.”

Shettima was said to have commended key government officials, including the minister of agriculture, the minister of finance and coordinating minister of the economy, the attorney-general of the federation, and the minister of foreign affairs, for their role in making the project a reality.

BRAZIL COMMITS TO SUPPORTING NIGERIA’S AGRICULTURAL DEVELOPMENT

In his remarks, Carlos Garcete, the Brazilian ambassador to Nigeria, expressed his country’s commitment to the GIP, adding that the initiative would facilitate the importation and assembly of agricultural equipment such as tractors and spare parts in Nigeria.

“over the past seven years, there has been negotiation with the Nigerian government with a view to obtaining the necessary funds from private and regional development banks to finance this ambitious project, which is worth approximately $1.1billion,” Garcete was quoted as saying.

“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.”

Nkwocha also said Umar Namadi, governor of Jigawa state, hailed the signing of the agreement as a significant development for agriculture in Nigeria, particularly for states that rely heavily on farming.

According to the statement, Hyacinth Alia, governor of Benue, also described the agreement as a milestone for his state, which is widely regarded as Nigeria’s food basket.

He pledged the state government’s full support for the project’s success, stating that Benue “not only carries the basket but also provides the food and its surpluses for the nation”.

On his part, Yusuf Tuggar, minister of foreign affairs, also described the agreement as a model for south-south cooperation between Nigeria and Brazil.