The Federal Government, through the Ministry of Agriculture and Food Security and Fundação Getulio Vargas of Brazil, have signed a Memorandum of Understanding to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.
The MoU was signed on behalf of the government by the Permanent Secretary of FMAFS, Temitope Fashedemi, and the President of FGV, Carlos Ivan Simonsen Leal, at FGV Headquarters in Rio de Janeiro, Brazil, on the sidelines of the G20 Leaders’ Summit.
“Under the MOU, private-sector projects on fertiliser production, hybrid seed technology, and agricultural financing are projected to attract $4.3bn in private-sector investment,” the State House Director of Information and Publicity, Abiodun Oladunjoye, revealed in a statement Sunday.
The statement is titled, ‘Nigeria, Brazil sign MOU to boost agribusiness in 774 Local Government Areas.’
Oladunjoye said the agreement marks a new phase of strategic collaboration between Nigeria and FGV, the Green Imperative Project lead implementer, one of the largest international agricultural technology transfer initiatives.
