Nigeria and Brazil have signed a Memorandum of Understanding (MOU) that would attract $4.3 billion private sector investment in agriculture in 774 local governments.
The scope of the investment, which is expected to revolutionalise agriculture in the country, covers fertiliser production and hybrid seed technology.
Also, the MoU would create new opportunities in agricultural financing.
The groundbreaking partnership between Nigeria and Fundação Getulio Vargas (FGV) of Brazil, both countries believe, would boost food productivity.
The MoU, signed during the G20 Leaders’ Summit in Rio de Janeiro, focuses on driving innovation and investment in fertiliser production, hybrid seed technology, and agricultural finance across the councils.
