Nigeria, Brazil sign a Memorandum of Understanding to boost agriculture
By Kasim Isa Muhammad
kanempress News
25th November 2024
Nigerian government and Fundação Getulio Vargas (FGV) of Brazil have signed a Memorandum of Understanding (MOU) to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.
This was made known by the State House’s Director of Information and Public Relations, Abiodun Oladunjoye.
Oladunjoye said the agreement was signed on behalf of the Nigeria by the Permanent Secretary of the Federal Ministry of Agriculture and Food Security (FMAFS), Mr. Temitope Fashedemi, and the President of FGV, Professor Carlos Ivan Simonsen Leal, at FGV Headquarters in Rio de Janeiro, Brazil, on the sidelines of the G20 Leaders’ Summit.
He further disclosed that the Memorandum of Understanding (MOU), conceived in 2018, aims to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.
The MOU, a GIP is a 1.2 billion-dollar cooperative effort between Brazil and Nigeria, designed to modernise the agricultural sector through Brazilian expertise in tropical agriculture.
Since the MoU was conceived in 2018, both parties have engaged in numerous meaningful discussions to advance its design and implementation.
