Nigeria and Brazil have signed a $1 billion agreement focused on agriculture, food security, energy, and defense.
The deal aims to deploy over $1 billion to provide mechanized farming equipment, training, and service centers across Nigeria, marking a shift from subsistence to scaled agriculture.
This initiative addresses Nigeria’s challenge of relying heavily on food imports despite its large population.
Most Nigerian farmland is family-owned, limiting large-scale farming expansion.
The agreement, signed during Brazil’s Vice President Geraldo Alckmin’s visit to Abuja, supports efforts to modernize agriculture and attract investments in gas production, refining, and renewable energy.
Vice President Kasim Shettima highlighted reforms by President Bola Tinubu as key to reshaping Nigeria’s economy.
The partnership reflects both nations’ commitment to strengthening Nigeria’s food security and energy sectors in a strategic collaboration.
The agreement between Nigeria and Brazil focuses on key areas such as agriculture, food security, energy, and defence.
It outlines clear objectives, identifies the main leaders behind the pact, and sets a framework for its phased implementation.
The $1 billion deal aims to enhance Nigeria’s agricultural capacity through mechanised farming equipment, training programs, and service centres nationwide.
It targets the transition from subsistence farming to industrial-scale agriculture to reduce Nigeria’s reliance on food imports.
In energy, the pact promotes investments in gas production, refining, and renewable energy projects.
Defence cooperation is also included, although specific projects in this sector were not detailed publicly.
The agreement supports Nigeria’s broader economic reforms and seeks to create infrastructure and skill development critical for sustainable growth.