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📰 Nigeria and Brazil Sign $1 Billion Deal to Boost Agriculture

Government & Politics 5 hrs ago
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    Juliet Tn
    5 hrs ago
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    Abuja, Nigeria — June 24, 2025

     

    The Federal Government of Nigeria has signed a landmark $1 billion agreement with the Government of Brazil to modernise Nigeria’s agricultural sector. The deal was officially signed on Monday, June 24, 2025, in Abuja.

     

    The agreement, described as a major step toward achieving food security in Nigeria, will provide access to modern farming equipment, training centres, and agricultural service hubs across the country.

     

    Speaking during the signing ceremony, Vice President Kashim Shettima stated that the partnership would help transform Nigeria’s farming system from traditional, subsistence methods to large-scale, commercial agriculture.

     

    According to Shettima, “This partnership with Brazil is a bold and strategic move that will significantly boost food production, create jobs, and strengthen the economy.”

     

    The collaboration will also include knowledge-sharing programmes, technical support, and the development of sustainable agricultural practices aimed at increasing yields and reducing post-harvest losses.

     

    Government officials believe the agreement will play a critical role in supporting President Bola Tinubu’s vision of building a $1 trillion economy by 2030 through reforms in the agriculture, energy, and defence sectors.

     

    Economic experts have commended the deal, noting that with proper implementation, it could drastically improve Nigeria’s food supply, reduce reliance on imports, and create new opportunities for farmers and a

    gribusinesses.

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