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The Federal Government is seeking the National Assembly approval for a fresh loan of $1.2bn from Brazil to finance agricultural programmes in the 2021 budget.
Zainab Ahmed, Minister of Finance, Budget and National Planning, made this known during a meeting with the House of Representatives Committee on Finance in Abuja on Tuesday.
Ahmed 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 loan for the Green Imperative Programme which is for loan of $1.2bn from the Brazilian government,” she noted.
“The purpose of this program is to address the whole of agricultural value chain from mechanization, production, processing and selling.”
