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Abuja, Nigeria – June 25, 2025 — Nigeria and Brazil have signed a $1 billion bilateral agreement aimed at transforming Nigeria’s agricultural sector, enhancing food security, and fostering cooperation in energy and defence, according to Nigerian Vice President Kashim Shettima.
Under the agreement, both countries will deploy over $1 billion to establish mechanised farming infrastructure, including equipment, training programs, and service centres across Nigeria. The initiative seeks to transition Nigerian agriculture from subsistence to commercial-scale production.
“Much of our farming remains subsistence-based, with fragmented land ownership posing a challenge to large-scale operations,” Shettima stated in an official post on X (formerly Twitter). “We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables.”
The agreement was formalised in Abuja during the official visit of Brazilian Vice President Geraldo Alckmin to Nigeria, Africa’s most populous country.
Vice President Shettima noted that economic reforms initiated by President Bola Tinubu’s administration have repositioned Nigeria for growth, with a target of reaching a $1 trillion economy by 2030. These reforms focus on agriculture, energy, education, and public finance. The government has also directed Nigerian banks to recapitalise in a bid to attract greater foreign investment.
The partnership marks a significant step in strengthening Nigeria-Brazil relations while advancing Nigeria’s strategic goals in food production, energy diversification, and economic development.
