The Minister of Finance, Budget and National Planning, Zainab Ahmed, has revealed that the Federal government of Nigeria is seeking a $1.2bn loan from Brazil to finance agricultural programmes in the 2021 budget.
This was made known during a meeting with the House of Representatives Committee on Finance in Abuja on Tuesday.
The minister said that a request has been sent to the National Assembly to approve the loan from the Brazilian government.
She said the loan will be used to address issues in agriculture, adding that 100,000 hectares of land will be acquired in each state for food production.
“I request for the approval for a loan for the Green Imperative Programme which is for a loan of $1.2bn from the Brazilian government
“The purpose of this program is to address the whole of agricultural value chain from mechanization, production, processing, and selling,” Ahmed said.
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