Nigeria and Brazil have signed the commercial phase of the $1.1 billion Green Imperative Project deal as part of measures to ensure food security in the country.
A statement by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of the Vice President), on Monday, said the project will boost agriculture productivity and enhance private-sector investment in Nigeria.
“GIP, the largest agricultural project in Africa that prioritises the development of sustainable, low-carbon agriculture, aims to develop structural conditions to boost food production in Nigeria efficiently and competitively.”
The MoU for the GIP 1.1 billion 1 was signed in 2018, while the $4.3 billion phase 2 of the project and the $2.5 billion JBS were signed in Brazil during President Bola Tinubu’s official visit to that country last year, all amounting to the tune of approximately $8 billion.
Vice President Kashim Shettima has described the signing of the commercial phase of the GIP 1 as part of ongoing efforts by the administration of President Tinubu, to enhance food security in the country.
Speaking on Monday during the signing of the commercial phase of the GIP 1 at Presidential Villa, Abuja, Shettima said the GIP will leverage on strategic opportunities to drive the nation’s economic growth and boost investor confidence.
He said, “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.”
VP Shettima noted that while the GIP aligns with all the policies and programmes of the Tinubu administration, it will link small-scale farmers with all the agricultural value chains in the country.
He noted: “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.
“This GIP is a wonderful opportunity because it seamlessly aligns with all the policies and programmes of this government. It’s a private sector-driven initiative that targets the small-scale farmer and links him up with all the agricultural value chains.
“Today, to me, is a high point of our leadership in this country. Yes, we have started seven years behind but the journey of a thousand miles begins with a step. 2025 as rightly captured by His Excellency, the Brazilian Ambassador to Nigeria, is a milestone year in our journey towards food security and diversification of our nation’s economy.”
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.
In his remarks, the Ambassador of Brazil to Nigeria, Carlos Garcete said it was a great honour for Brazil to associate with the GIP, saying “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 $1.1billion dollars.”
He noted that the project will allow for the importation of agricultural equipment such as tractors, and spare parts and the assembling of machines will be done in Nigeria with Nigerian labour, stressing that “in the event of breakdown of any tractor, it will be possible to carry out any repairs here in Nigeria by the personnel who will be trained by GIP.”
On behalf of the Brazilian government, Mr Garcete thanked President Bola Ahmed Tinubu for bringing the long negotiation to a fruitful conclusion.
In his goodwill message, the Governor of Jigawa State, Alhaji Umar Namadi, expressed delight over the signing of the agreement noting that “for us at the sub-national, it is a very important day for us because agriculture plays an important role in the economy of the country.”
Punch
