FG seeks approval for N459 Billion Agric loan from Brazil

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Federal Government is seeking the approval of 1.2 billion dollars, equivalent to 459 billion-naira, agricultural loan from the Brazilian Government.

The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, disclosed this on Tuesday when she appeared before the House of Representatives Committee on Finance for her ministry’s budget defense.

She said the government had forwarded the loan request to the National Assembly.

According to her, the loan is aimed at addressing issues in the agricultural value chain.

She said the government was planning to acquire 100 thousand hectares of land in each of the 36 states for food production.