Business & Economy

Nigeria, Brazil Collaborate on $1.1 Billion GIP for Food Security

Published

1 month ago

Mar 18, 2025.

The GIP is the largest agricultural project in Africa, with a focus on developing structural conditions to boost food production efficiently and competitively.
Shettima said the GIP would leverage strategic opportunities to drive the nation’s economic growth and boost investor confidence.
The Vice President gave credit to the Minister of Agriculture, the Minister of Finance and Coordinating Minister of the Economy, the Attorney General of the Federation and Minister of Justice, the Foreign Affairs Minister, among others for the success of the project.

In an effort to bolster agricultural productivity and enhance private-sector investment in Nigeria, the nations of Nigeria and Brazil have joined forces to sign the commercial phase of the $1.1 billion Green Imperative Project (GIP).

Eko Hot Blog reports that this collaboration is aimed at ensuring food security in Nigeria by promoting sustainable, low-carbon agriculture practices.

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The GIP is the largest agricultural project in Africa, with a focus on developing structural conditions to boost food production efficiently and competitively.

The initial Memorandum of Understanding for GIP 1 was signed in 2018, while additional phases, including the $4.3 billion GIP 2 and the $2.5 billion JBS, were agreed upon during President Bola Tinubu’s visit to Brazil in 2024.

Speaking on the significance of this collaboration, Vice President Kashim Shettima described the signing of GIP 1’s commercial phase as a vital step in the ongoing efforts of the Tinubu administration to enhance food security in Nigeria.

Speaking on Monday during the signing of the commercial phase of the GIP 1 at Presidential Villa, Abuja, the Vice President said the GIP would 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 8-point agenda of President Bola Ahmed Tinubu, we must synergise and use existing initiatives such as the GIP for policy continuity, to utilise or leverage on strategic opportunities to drive our economic growth and also to enhance investor confidence.”

Shettima noted that while the GIP aligned with all the policies and programmes of Tinubu’s administration, it would link small-scale farmers with all the agricultural value chains in the country.

He noted: “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.

Nigeria, Brazil Collaborate on $1.1 Billion GIP for Food Security

“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 gave credit to the Minister of Agriculture, the Minister of Finance and Coordinating Minister of the Economy, the Attorney General of the Federation and Minister of Justice, the Foreign Affairs Minister, among others for the success of the project.

In his remarks, the Ambassador of Brazil to Nigeria, Carlos Garcete said it was a great honour for Brazil to associate with the GIP.

“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 $ 1.1 billion dollars.”

He noted that the project would allow for the importation of agricultural equipment such as tractors, and spare parts and the assembling of machines would 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.”

On behalf the Brazilian government, Garcete thanked President Bola Tinubu for bringing the long negotiation to a fruitful conclusion.