FG seeks NASS approval for $1.2 Billion Agriculture loan

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The federal government of Nigeria has approached the National Assembly to seek the approval of $1.2 billion agricultural loan from Brazil.

The Minister of Finance, Budget, and National Planning, Zainab Ahmed made this known on Tuesday when she appeared before the lawmakers to defend her ministry’s 2021 budget figures.

The Minister told members of the House of Representatives that government plans to use the loan to further improve the nation’s agricultural sector in order to boost government revenue.

She added that the federal government plans to acquire 100,000 hectares of land in each of the 36 states for food production while roads would also be built in such locations to provide access for farmers to move their farm produce to markets and thereby reduce post-harvest losses.

15 Comments

  1. This borrowing of a thing is getting worrisome, very very worrisome indeed
    They should know that he who goes aborrowing goes asorrowing

  2. If the money will be used judiciously for the things you borrowed it for, it will go a longer way in contributing to our economic growth.

  3. Why do we keep borrowing all the time instead of using our resources for What it’s not meant for. May Almighty God save us from this borrowing always.

  4. Government should cut down cost of governance instead of continue depending on borrowing from external body, government should look for a way to generate income and utilize the money judiciously.

  5. Nigeria being the giant of africa keep borrowing from other country… loans with agreement not favourable to its sovereignty…..What are our taxes used for?

  6. Borrow borrow just to run this country to the ground just to enrich yourself but by the grace of God almighty you will not succeed…

  7. God pls who we offend na or did we offend u that u have kept quite this can of thing is happening to us pls come nd help us this people want borrow again pls come fast fast abeg God

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