FG ASKS NATIONAL ASSEMBLY TO APPROVE $1.2BN LOAN FROM BRAZIL
The Federal Government has asked the National Assembly to approve a $1.2bn loan from Brazil.
Nigeria's Minister of Finance, Zainab Ahmed, who submitted the request to the National Assembly on Tuesday, November 3, said the loan is to finance agricultural programmes in the 2021 budget.
The Finance Minister stated that the Federal Government would acquire 100,000 hectares of land in each state for food production.
She also said roads would be constructed in such locations to enable easy accessibility for farmers to move farm products to markets.
The Chairman of the committee, Mr James Faleke, had asked the Finance Minister about diversification of the economy.
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Ahmed responded and said, “For borrowing to improve industry, we are before the parliament. I request for the approval for loan that we call the Green Imperative Programme which is for loan of $1.2bn from the Brazilian government.
“It is a programme that is addressing the whole of agricultural value chain from mechanisation, production, processing and selling. It is meant to lend to businessmen for tractors, plants at all levels.”
Ahmed also added that the Federal Government was still bent on the enrolment of all workers on the Integrated Payroll and Personnel Information System, including members of the Academic Staff Union of Universities (ASUU).
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