The Federal Government of Nigeria, says it would borrow the sum of $1.2bn for mechanised agriculture in Nigeria.
Andrew Kwasari, Senior Special Adviser to the President on Agriculture, disclosed this in a chat with journalists in Abuja on Wednesday.
Kwasari who said that the money would be sourced from the Development Bank of Brazil and the Dutch Bank, also noted that the initiative was under the Green Imperative Project of government.
“This project is a private sector driven one. So all the service centres will be operated by private entrepreneurs and they will have the responsibility of servicing the loan,” he said.
“The Green Imperative will address issues of mechanisation and provide agro-processing. These two will work together through service centres that will be created in each Local Government Area in Nigeria,” Kwasari added.
