FG To Implement $1.2bn ‘Green Imperative’ Agricultural Programme
The Federal Government is set to implement a programme called Green Imperative, which it said would revolutionise agriculture in Nigeria.
The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this in Abuja on Thursday at a joint press conference he addressed with the Minister of Agriculture and Rural Development, Sabo Nanono.
Mohammed said the programme, worth $1.2bn, was a product of a Nigeria-Brazil Bilateral Agriculture Development Programme.
- Nigeria: COVID-19 – ‘How Telecoms Can Rebuild Nigeria’s Economy’
- Nigeria’s budget: A fundamental incompatibility
The minister said the programme, which is the outcome of Nigeria’s decision, dating back to June 6, 2016, to enroll in Brazil’s Government-to-Government More Food International Programme, would be implemented over a period of five to 10 years with funding from the Development Bank of Brazil and Deutsche Bank.
He said insurance would be provided by Brazilian Guarantees and Fund Managements Agency and the Islamic Corporation for Insurance of Export Credit of the Islamic Development Bank and coordinated by Getúlio Vargas Foundation.
He said, “Since 2015, the Buhari administration has been working hard to bring about irreversible change in many sectors and to diversify the economy away from oil.
“The many unprecedented programmes embarked upon by the administration have touched the power sector and food security, especially production of rice, a national staple, through the Anchor Borrower’s Programme.
“The stage is now set for an agricultural revolution that will strengthen food security, create massive jobs, transfer technology, revive or reinvigorate many assembly plants, strengthen the economy, save scarce resources, mechanise farming and lead to the emergence of value-added agriculture, among other benefits.”
Mohammed said the programme would lead to the reactivation of six motor assembly plants in the six geopolitical zones of the country for assembling tractors and other implements while it would import the Completely Knocked Down parts of about 5,000 tractors and numerous implements (for local assembly) annually for a period of 10 years.
He said 632 mechanisation service centres would also be established to support primary production in the 774 local government areas and the Federal Capital Territory.
According to the minister, the programme will create about five million jobs and inject over $10bn into the economy within 10 years.
Nanono, on his part, disclosed that the programme would be private sector-driven with the government playing the role of guaranteeing the loan.
FOLLOW US ON TWITTER