• $1.1b
• Agriculture
• Nigeria - Brazil

NIGERIA, BRAZIL SIGN $1.1BN GREEN IMPERATIVE PROJECT TO BOOST AGRICULTURE PRODUCTIVITY

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  CapitalTimesNews / 3 weeks
• 0
• 3 min read

Nigeria and Brazil 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. The project, which is the largest agricultural project in Africa, prioritizes the development of sustainable, low-carbon agriculture. Vice President of Nigeria, Kashim Shettima, described the signing of the commercial phase of the GIP as part of ongoing efforts by the administration of President Bola Ahmed Tinubu to enhance food security in the country. “As this administration addresses the food security challenges we are facing and dovetails the 8-point agenda of President Bola Ahmed Tinubu, it is imperative for us to synergise and use existing initiatives such as the GIP for the purpose of policy continuity, for the purpose of utilising or leveraging on strategic opportunities to drive our economic growth and also to enhance investor confidence,” Shettima said. Shettima noted that the GIP will leverage on strategic opportunities to drive the nation’s economic growth and boost investor confidence. He also stated that the project aligns with all the policies and programmes of the Tinubu administration and will link small-scale farmers with all the agricultural value chains in the country. “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,” he said. 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. Shettima also thanked the Brazilian government for their partnership, saying the project is a wonderful opportunity for Nigeria. In his remarks, the Ambassador of Brazil to Nigeria, Carlos Garcete, said it is a great honour for Brazil to associate with the Green Imperative Project. “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,” Garcete said. Garcete noted that the project will allow for the importation of agricultural equipment such as tractors, spare parts, and assembling of machines will be done in Nigeria with Nigerian labour. He also stressed that in the event of breakdown of any tractor, it will be possible to carry out repairs in Nigeria by personnel trained by GIP. The Governor of Jigawa State, Alhaji Umar Namadi, expressed delight over the signing of the agreement, noting that agriculture plays an important role in the economy of the country. The Governor of Benue State, Rev. Fr. Hyacinth Alia, said Benue State, being the food basket of the nation, is the happiest state among the subnationals to witness the signing of the agreement. The Minister of Foreign Affairs, Amb. Yusuf Tuggar, said the exercise is a good example of the South-South Cooperation between Nigeria and Brazil. Attorney General of the Federation Minister of Justice, Hon. Lateef Fagbemi, SAN, thanked Shettima and all the stakeholders who made the event successful.