The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, FMAFS, and Fundação Getulio Vargas, FGV, of Brazil, have signed a Memorandum of Understanding, MOU, to advance private sector development in fertilizer production, hybrid seed technology, and agricultural finance.
The MoU was signed on behalf of the government by the Permanent Secretary of the Ministry of Agriculture and Food Security, 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.
The agreement marks a new phase of strategic collaboration between Nigeria and FGV, one of the largest international agricultural technology transfer initiatives.
The project, supported by Deutsche Bank, aims to deliver transformative agricultural technologies and knowledge transfer over its 10-year duration.
According to the statement by Abiodun Oladunjoye Director of Information & Public Relations over the next five years, the project will identify and support one agribusiness in Nigeria’s 774 local government areas with technical and financial resources, driving sustainable development and economic growth.
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