The Federal Government of Nigerian regents the approval of prospective N1.2bn loan from Brazil for agriculture come 2021.
The Minister of finance, national budget and planning, Zainab Ahmed mentioned this in defence of the ministry’s 2021 budget.
During her bid to the National Assembly, she said that the FG had forwarded the approval request for the loan from Brazil.
This N1.2Bn loan from Brazil intends to solve the issues in the Nigerian agricultural value chain
Additionally, she said that 100,000 hectares of land would be required in all the state for food production.
Also, linking roads will be built to help the farmers have easy access to markets and reduce the waste.
James Faleke, Chairman of the House of Representatives Committee raised concerns on diversification of the economy, the minister responded,
“For borrowing to improve the industry, we are before the parliament.
“I request for the approval for the loan that we call the Green Imperative Programme which is for the loan of $1.2bn from the Brazilian government.
“It is a programme that is addressing the whole of the agricultural value chain from mechanisation, production, processing and selling. It is meant to lend to businessmen for tractors, plants at all levels,”
