President Muhammad Buhari-led Federal Government has said that it’s seeking a 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.
According to her, a request has been sent to the National Assembly to approve the loan from the Brazilian government.
Ahmed, who said the loan will be used to address issues in agriculture, added that 100,000 hectares of land will be acquired in each state for food production.
She said, “I request for the approval for loan for the Green Imperative Programme which is for 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.”