FG asks NASS to approve $1.2bn loan from Brazil

Nigeria’s Federal Government of Nigeria has appealed to the National Assembly to approve its $1.2 billion agricultural loan request from Brazil.

Minister of Finance, Budget and National Planning, Zainab Ahmed, made the appeal when she appeared to defend the ministry’s 2021 budget before the House of Representatives’ committee on Finance on Tuesday.

The minister said the Muhammadu Buhari government had forwarded the loan request to the National Assembly which is aimed at addressing issues in the agriculture value chain as Nigeria’s moves to make it another source of revenue.

According to her, the government was planning to acquire100,000 hectares of land in each of the 36 states for food production.