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FG to Borrow Another $1.2billion from Brazil to Finance 2021 Budget

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FG to Borrow Another $1.2billion from Brazil to Finance 2021 Budget

economy

The Nigerian Government is set to secure a loan worth $1.2 billion dollars from Brazil in order to finance agricultural projects captured in the 2021 budget.

Zainab Ahmed who is the Minister of Finance, Budget and National Planning made this known to the House of Representatives Committee on Finance.

She said 100, 000 hectares of land is to be acquired in all the 36 States of the federation to be used to food production.

“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,” she said.

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