Nigeria, led by President Bola Tinubu, has launched a strategic partnership with Brazil to modernize the agricultural sector.
With the support of BRICS member Brazil, Nigeria plans to attract an investment of approximately 2.7 trillion CFA (4.3 billion dollars).
Details of the Collaboration
This agreement was signed with the Getulio Vargas Foundation (FGV) and formalized during the G20 summit in Rio de Janeiro. The collaboration, led by Nigeria’s Ministry of Agriculture and Food Security, aims to transform the country’s agricultural sector and attract private investments.
The agreement focuses on three key areas:
- Fertilizer Production: Increasing local fertilizer production to reduce dependency on imports.
- Hybrid Seed Development: Developing new technologies to support more efficient agricultural practices.
- Agricultural Financing: Improving farmers’ access to financial resources.
“Green Obligation” Project
This partnership is linked to the “Green Obligation” project, which aims to transfer Brazil’s agricultural technology expertise to Nigeria. Launched in 2019 with a budget of 1.2 billion dollars, the project seeks to transfer agricultural technologies and increase Nigeria’s production capacity over a ten-year period.
Progress in Fertilizer Production
Under FGV’s leadership, this collaboration has led to significant growth in Nigeria’s fertilizer production. According to data from the International Fertilizer Development Center (IFDC), Nigeria’s urea production increased from 1.4 million tons in 2017 to 3.6 million tons in 2023, indicating an average annual growth rate of 17%.
Nigeria’s Role in Agriculture
Agriculture, which accounts for 22% of Nigeria’s economy and employs more than a third of the country’s workforce, will be modernized and made more productive through these investments. Under President Tinubu’s leadership, Nigeria aims to strengthen its regional leadership position and accelerate agricultural growth through this partnership.
This strategic move will not only support Nigeria’s economic development but also contribute to its goals of food security and energy independence.
