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Nigeria, Brazil Sign $1 Billion Deal to Revolutionize Agriculture, Boost Economy

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By Onilede Titi Faith

 

In a step to revamp its agricultural sector and strengthen bilateral ties, Nigeria has signed a $1 billion agreement with Brazil aimed at modernizing farming practices and addressing long-standing challenges in food security, energy, and industrialization.

The landmark deal was sealed during a high-level meeting in Abuja between Nigeria’s Vice President, Kashim Shettima, and Brazil’s Vice President, Geraldo Alckmin.

The initiative will usher in a new era of large-scale mechanized agriculture in Nigeria, with the establishment of service and training centers to empower farmers and boost productivity.

Announcing the deal, Vice President Shettima said the collaboration signifies Nigeria’s firm commitment to transitioning from subsistence farming to commercial-scale agriculture, capable of driving rural development and economic transformation.

“This is a strategic partnership to unlock the potential of our agricultural sector and move towards a self-sufficient, industrialized economy,” he said.

The agreement will introduce modern farming technologies designed to improve crop yields, streamline supply chains, and create jobs across rural communities.

Beyond agriculture, the pact includes cooperation in energy development, particularly gas refining and renewable energy; laying the foundation for a more diversified and resilient Nigerian economy.

Vice President Shettima emphasized that the Brazil-Nigeria partnership aligns with the country’s ambition to build a $1 trillion economy by 2030, a goal anchored in reforms across agriculture, energy, public finance, and education.

He added that Nigeria is also pushing for recapitalization of local banks and financial institutions to attract foreign investment and support national development.

“This agreement comes at a critical time,” Shettima noted, “as we tackle food insecurity, foster innovation, and deepen our engagement with global economic partners.”

Analysts see the deal as a major boost to Nigeria’s economic diversification agenda and a step toward achieving sustainable growth in key sectors.

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Abuja Reports

Abuja Residents Praise FG as Food Prices Drop

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By Patrick Idowu

Residents of Abuja have lauded the Federal Government’s intervention in the agricultural sector, saying the recent drop in food prices has eased pressure on households in the Federal Capital Territory and beyond.

Speaking with reporters on Tuesday, a foodstuff vendor at Wuse Market, Mrs. Bunmi Akinpelu, said government measures had helped curb the rising cost of staples.

She noted that prices of key commodities such as rice, beans and yam flour had fallen significantly.

“A bag of rice that sold for about ₦76,000 a few months ago now goes for around ₦55,000,” Akinpelu said, adding that the reduction had brought relief to both traders and consumers.

Similarly, a civil servant, Mrs. Nwodo Chukwu, attributed the price drop to policies that boosted food supply.

According to her, increased availability had created a surplus, leading to lower prices. “Food costs have been a major burden. With this reduction, families can now afford more,” she said.

However, some residents urged caution. Mrs. Cynthia Chukwuma, a shopper at Lugbe Market, welcomed the development but called on the government to ensure price stability.

“We have seen prices fall before only to rise again. Sustainability is key,” she said.

A mechanised farmer, Mr. Kayode Iyiola, said the decline in prices was due to a mix of government intervention and seasonal factors. He added that federal support for farmers had played a crucial role in stabilising the market.

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Agriculture

Wike Launches 50% Fertilizer Subsidy for FCT Farmers

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By Huldah Shado

 

FCT Minister Nyesom Wike has launched a fertilizer subsidy program, offering 550 metric tonnes of assorted fertilizers at 50% subsidized rates to farmers across the six Area Councils.

Speaking at the launch in Garki, Wike said the initiative will boost food production, stabilize prices, and enhance food security.

He warned against diversion, stressing that inputs must be used strictly for farming.

The FCT also procured 3,500 knapsack sprayers and partnered with agencies including JICA, IITA, FAO, and the World Bank’s ACReSAL Project for farmer training and land reclamation.

Wike urged youths to embrace agriculture, noting Abuja’s vast arable land, and pledged continued support to make the FCT prosperous, secure, and food-sufficient.

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Agriculture

Tinubu Arrives Brazil for State Visit

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By Merciful Omoba

 

President Bola Tinubu arrived in Brasília on Monday for a state visit to strengthen diplomatic and economic ties between Nigeria and Brazil.

He was welcomed at the Brasília Air Base by senior Brazilian officials and Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu.

According to his media aide, Bayo Onanuga, Tinubu will meet President Luiz Inácio Lula da Silva at the Planalto Palace for bilateral talks, the signing of MoUs, and a joint press conference.

The visit is expected to advance cooperation in agriculture and defence, including projects such as the $1.1 billion Green Imperative Programme and a $2.5 billion JBS investment aimed at boosting food security and job creation.

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