Nigeria and Brazil have signed a landmark agreement worth $1 billion aimed at revitalizing Nigeria’s agriculture sector, enhancing energy development, strengthening food security, and supporting defence initiatives. The signing took place on Tuesday in Abuja during the official visit of Brazilian Vice President Geraldo Alckmin to Nigeria.
Vice President Kashim Shettima, who announced the development in a statement shared on X (formerly Twitter), said the agreement focuses primarily on transforming Nigeria’s agricultural landscape. As part of the deal, the two countries will work together to deploy more than $1 billion in resources to supply modern farming machinery, establish training programmes, and set up service centres across the country.
“This initiative marks a significant shift as we move from small-scale, subsistence farming to a model that supports agricultural scalability,” Shettima said. “We are also taking decisive steps to attract substantial investment in Nigeria’s energy sector—especially in gas production, refining, and renewable sources.”
Agriculture in Nigeria has long been dominated by smallholder farmers, with land ownership typically restricted to individuals or families. This has limited opportunities for commercial-scale farming and left the country increasingly dependent on food imports to feed its population of over 200 million people.
The strategic agreement with Brazil is seen as a critical step toward modernizing Nigeria’s farming practices, reducing food imports, and increasing local production. With Brazil’s experience in mechanised and large-scale farming, the partnership is expected to significantly boost productivity and rural development.
In the energy sector, the agreement also aligns with Nigeria’s broader plan to diversify its energy sources and improve infrastructure. Shettima noted that the country is targeting long-overdue reforms to encourage foreign investment and expand energy access through cleaner and more efficient technologies.
The visit by Brazil’s vice president underscores growing bilateral ties between the two nations, particularly in areas of economic cooperation. During their meeting, Shettima told Alckmin that recent economic reforms initiated by President Bola Tinubu have already begun reshaping the Nigerian economy, laying the groundwork for sustainable growth.
Nigeria has set an ambitious target to grow its economy to $1 trillion by 2030. Reforms across key sectors—including agriculture, energy, education, and public finance—are central to this vision. As part of these efforts, Nigerian banks have also been instructed to recapitalise, a move designed to improve the financial sector’s resilience and attract foreign direct investment.
The agreement with Brazil is seen as a crucial step in unlocking Nigeria’s agricultural and industrial potential, while deepening international partnerships for long-term development.