Nigeria and Brazil, on Monday, signed the commercial phase of the 1.1 billion dollars Green Imperative Project, GIP, to boost agriculture productivity and improve private-sector investment in Nigeria.
DAILY POST reports that GIP is the largest agricultural project in Africa which priotises the development of sustainable, low-carbon agriculture.
It is aimed at developing structural conditions to boost food production in Nigeria in an efficient and competitive manner.
Recall that the MoU for the 1.1 billion dollars GIP 1 was signed in 2018, while the 4.3 billion dollars phase 2 of the project and the $2.5 billion JBS were signed in Brazil during President Bola Ahmed Tinubu’s visit to that country in 2024.
Vice-President Kashim Shettima, while speaking during the the signing of the commercial phase of the GIP 1, at the Presidential Villa, Abuja, said it was part of ongoing efforts of President Bola Tinubu’s administration to enhance food security.
According to him, the GIP would leverage on strategic opportunities to drive the nation’s economic growth and boost investors’ confidence.
“As this administration addresses the food security challenges, it is also delivering the 8-point agenda of President Bola Tinubu.
“It is imperative for us to synergise and use existing initiatives such as the GIP for the purposes of policy continuity, utilising or leveraging on strategic opportunities to drive our economic growth.
“This is with a view to enhancing investors’ confidence,” he said.
The vice president explained that while the GIP aligned with all the policies and programmes of the Tinubu’s administration, it would link small-scale farmers with all the agricultural value chains in the country.
On his part, the Ambassador of Brazil to Nigeria, Carlos Garcete, said it was a great honour for Brazil to associate with the GIP.
Garcete noted that the project would allow for the importation of agricultural equipment such as tractors, spare parts while assembling of the machines will be done in Nigeria with the Nigerian labour.
“Over the past seven years, there has been negotiation with the Nigerian government to obtain the necessary funds from private and regional development banks to finance this ambitious project, which is worth approximately 1.1billion dollars,” he said.
