Date: June 24, 2025
Venue: Presidential Villa, Abuja
Attendees: Brazil’s Vice President Geraldo Alckmin and Nigeria’s Vice President Kashim Shettima
What Was Agreed
A $1 billion investment targeting agriculture, food security, energy, and defense sectors in Nigeria
Over $1 billion allocated for the deployment of mechanized farming equipment, creation of training programs, and establishment of service centers in various regions
This initiative marks a strategic shift from Nigeria’s traditional subsistence farming—dominated by small-scale, privately owned plots—toward commercial-scale agriculture, aiming to supply its 200+ million population more sustainably.
Why It Matters
Nigeria heavily imports food, influencing inflation and economic stability. This deal aims to shore up domestic production, reduce food imports, and bolster national food security.
It complements President Tinubu’s economic reform agenda, which seeks to build a $1 trillion economy by 2030 through investments in agriculture, energy, education, and public finance. The government is also pushing for bank recapitalization to attract foreign investors.
Broader Economic Vision
On the energy front, plans include increasing investment in gas production, refining, and renewable energy, helping diversify Nigeria’s energy needs and reduce import dependency.
The defense component reflects a strategic partnership, though specific defense projects have not been made public.
Next Steps
Expect deployment of machinery and farming assets across key agricultural states.
Training centers and service hubs will support local farmers in productivity and equipment maintenance.
Government agencies and Brazilian partners will monitor progress and scale up success stories in targeted regions.
Bottom Line
This deal marks a major milestone in South–South cooperation, leveraging Brazil’s experience in large-scale agriculture to upgrade Nigeria’s farming systems, create jobs, reduce import dependency, and support broader economic reforms.
