ABUJA — Nigeria and Brazil have signed a landmark $1 billion bilateral agreement aimed at transforming Nigeria’s agriculture, enhancing food security, and boosting cooperation in energy and defence, Vice President Kashim Shettima announced on Tuesday.
The agreement, which marks a new phase of strategic collaboration between the two nations, was formalised during the visit of Brazil’s Vice President Geraldo Alckmin to Abuja. The deal will see the deployment of mechanised farming systems and critical investments in energy and defence infrastructure across Nigeria.
According to Shettima, the focus of the agreement is to “deploy over $1 billion to deliver mechanised farming equipment, training, and service centres across Nigeria,” thereby revolutionising the country’s largely subsistence-based agriculture sector.
“Nigeria is moving from subsistence to scale in agriculture,” Shettima said in a statement posted on X (formerly Twitter). “In energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables.”
Agriculture in Nigeria has long been dominated by smallholder farmers using traditional techniques. Fragmented land ownership and lack of access to modern farming tools have hindered large-scale commercial farming and domestic food production.
With a population exceeding 200 million and growing, Nigeria has relied heavily on food imports to meet demand, despite its vast arable land.
This new agreement is expected to address some of these challenges by introducing modern farming technologies and improving agricultural productivity.
The establishment of training centres under the agreement will also provide Nigerian farmers with skills to operate and maintain mechanised systems, ensuring long-term sustainability.
The energy component of the deal includes plans to increase investments in gas production and renewable energy projects. Nigeria, one of Africa’s largest natural gas producers, has struggled to fully capitalise on its energy potential due to inadequate infrastructure and regulatory bottlenecks.
Shettima said the country is now focused on creating an environment that attracts “serious investment” into the sector.
On defence, the agreement is set to deepen Nigeria’s capabilities in securing its borders and combating terrorism and organized crime.
While specific details of the defence cooperation were not disclosed, both sides expressed commitment to working together on mutual security interests.
Vice President Alckmin’s visit is part of broader efforts by Brazil to strengthen economic and political ties with African nations. Brazil, with its strong agricultural industry and experience in mechanised farming, is seen as a valuable partner for Nigeria’s rural transformation agenda.
During the bilateral talks, Shettima noted that ongoing economic reforms spearheaded by President Bola Tinubu’s administration have helped reshape Nigeria’s economic outlook. Nigeria is targeting a $1 trillion economy by 2030, with reforms spanning agriculture, energy, education, and public finance.
Additionally, the government has directed commercial banks to recapitalise in a bid to attract more foreign investments and stabilise the financial system.
The signing of this agreement is being widely viewed as a major step towards unlocking Nigeria’s agricultural potential and positioning the country as a key player in regional food and energy security.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
