Nigeria and Brazil (through state controlled Fundação Getulio Vargas— FGV Europe ), have signed the commercial phase of the $1.1 billion Green Imperative Project (GIP) to boost agriculture productivity and enhance private-sector investment in Nigeria.
This project, born out of a Memorandum of Understanding (MoU) signed in 2018, between the Nigerian Ministry of Agriculture and FGV Europe, with the aim of promote agricultural technological cooperation between Brazil and Nigeria.
The GIP is a cooperation initiative between Brazil and Nigeria that aims to modernize and strengthen the Nigerian agricultural sector by harnessing Brazilian tropical agriculture technology and knowledge.
The GIP is expected to last 10 years and has an estimated budget of $1.2 billion, making it one of the largest international agricultural technology transfer projects. Designed by FGV Europe with the support of Deutsche Bank, the project prioritizes the development of sustainable, low-carbon agriculture, and aims to develop local production of basic food for the population.
According to the agreement, the Green Imperative Project is a high-priority initiative for the Nigerian government, aiming to increase food security for the population and decrease rural exodus, contributing to social peace. The project also includes the launch of the International Center for Innovation and Agricultural Technology Transfer (CIITTA) in Uberaba, Minas Gerais, Brazil.
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