Business
Nigeria, Brazil commence $1bn Green project six years after
Nigeria and Brazil on Monday signed the commercial phase of the $1.1bn Green Imperative Project to enhance agriculture productivity and private-sector investment in Nigeria.
The memorandum of understanding for the $1.1bn GIP 1 was signed in 2018, while the $4.3bn Phase II of the project and the $2.5bn JBS were signed in Brazil during President Bola Tinubu’s visit to that country in late 2024, all amounting to $7.8bn.
The Senior Special Assistant to Vice President Kashim Shettima on Media and Communication, Stanley Nkwocha, revealed this in a statement he signed Monday titled ‘Six years after, Nigeria-Brazil $1.1bn Green Imperative Project kicks off.’
“GIP, the largest agricultural project in Africa that priotises the development of sustainable, low-carbon agriculture, aims to develop structural conditions to boost food production in Nigeria efficiently and competitively,” said Nkwocha.
Vice President Kashim Shettima described the signing of the commercial phase of the GIP 1 as part of ongoing efforts by the Tinubu administration to enhance food security in the country.
Speaking at the signing of the commercial phase of the GIP 1 at Presidential Villa, Abuja, Shettima said the GIP will leverage strategic opportunities to drive the nation’s economic growth and boost investor confidence.
He said, “As this administration addresses the food security challenges we are facing and dovetails the eight-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 noted that while the GIP aligns with all the policies and programmes of the Tinubu administration, it will link small-scale farmers with all the agricultural value chains in the country.
He added, “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, but 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 farmer and links him up with all the agricultural value chains.
“Today, to me, is a high point 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 Vice President credited the Ministers of Agriculture, Foreign Affairs, Finance and Coordinating Minister of the Economy, the Attorney General of the Federation and the Minister of Justice, among others for the success of the project.
In his remarks, the Ambassador of Brazil to Nigeria, Carlos Garcete said it is a great honour for Brazil to associate with the Green Imperative Project, saying “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 $1.1bn dollars.”
Garcete noted that the project will allow for the importation of agricultural equipment such as tractors, and spare parts and the assembling of machines will be done in Nigeria with Nigerian labour, stressing that “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.”
He said Brazil plans to invest about $8bn in Nigeria, focusing on agriculture, livestock, and job creation, emphasizing long-term partnerships over donations.
“We are calling it Green Imperative 1 now, because there is a Green Imperative 2 whose memorandum of understanding was signed last November on the margins of the G20.
“It’s the estimated $4.3bn project, hybrid seeds, fertilisers and the direct financial support to farmers, and we’re taking into consideration as well the six plants we will build through JPS, the Brazilian company, the most important company in the world when you talk about animal protein.
“It is a $2.5bn investment. So if you take into consideration these three we’re talking about $8 billion and there’s much more on the way.
He revealed that Brazil’s Vice President, Geraldo Alckmin, will visit Nigeria in June where modalities for more partnerships will be established.
“By the month of June, our Vice President will come to Nigeria with a big delegation, CEOs, other companies, not only for agriculture or livestock, but many different sectors of the Brazilian economy
“We want to work with Nigeria. We are here to help Nigeria and to make money in Nigeria as well. We don’t want to donate or sell, we want to be partners,” the ambassador added.
On behalf of the Brazilian government, the diplomat thanked President Tinubu for bringing the long negotiation to a fruitful conclusion.
In his goodwill message, the Governor of Jigawa State, Umar Namadi, expressed delight over the signing of the agreement noting that “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.”
Namadi also noted that the signing of the agreement underscores the high level of commitment of the Tinubu Administration in improving and transforming agriculture in Nigeria.
“This commitment which is demonstrated from the highest level from the President to the Vice President, I think those of us at the subnational have nothing to do except to toe the line because this is our project,” he stated.
Also in his remarks, the Governor of Benue State, Hyacinth Alia, said Benue State, being the food basket of the nation is the happiest state among the subnationals to witness the signing of the agreement.
Assuring that the government of Benue State will give full support to the success of the project, he said, “Benue State does not only hold the basket but the food and its surpluses for the nation.”
The Minister of Foreign Affairs, Yusuf Tuggar, who also witnessed the signing of the agreement, said the exercise is a good example of the South-South Cooperation between Nigeria and Brazil, adding that “the Brazilian Minister of Foreign Affairs was in Nigeria last week where he had a bilateral meeting with the Nigerian President.”
He said both countries are very passionate about the project, having seen what Brazil has achieved and how it turned a barren savannah into one of the most prolific agricultural sites in the world today.
Also, the Attorney General of the Federation Minister of Justice, Lateef Fagbemi, SAN, thanked the Vice President and all the stakeholders who made the event successful.