Nigeria Secure Agric loan from Brazil

Nigerian government has launched a project named ‘Green Imperative’ targeted towards boosting agricultural production on January 17.

At the event the Vice President  Professor Yemi Osinbajo revealed that $1.1 billion loan has been secured from the Brazilian government to boost agricultural production and provide five million jobs opportunities.

It’s a Brazil – Nigeria bilateral project is targeted towards enhancing the agricultural sector through the provision of modern machinery tools, the partnership includes 10,000 tractors to be assembled in Nigeria, more than 707 centres to be established to train not less than 10,000 Nigerians.

Osinbajo stress the need for an investment in agriculture in order to bring our nation out of poverty and creating of jobs for our the unemployed youths.

He said the ‘Green Imperative’, is a game changer.

The minister of agriculture, Audu Ogbeh while delivering his speech at event advised youths to seek wealth through agriculture, added that the Brazilian support will take Nigeria to see the government want by reducing importation, unemployment and poverty.

Details of the Green Imperative Loan

The Nigerian government will get the loan facility in 4 tranches over a period of 2 years.

Mostly, it will be provided in kind through the supply of agricultural machinery and implementation in the form of Completely Knocked Down parts, CKDs.

Present at the event are governors and other government functionaries.


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