The Federal Executive Council (FEC) on a Wednesday approved a loan of 1.2 billion dollars to finance the mechanisation of agriculture in the country. Mr. Sabo Nanono, the Minister of Agriculture and Rural Development, made this known on Wednesday while briefing State House correspondents after the virtual FEC meeting anchored from the Council Chamber of
The Federal Executive Council on a Wednesday approved a loan of 1.2 billion dollars to finance the mechanisation of agriculture in the country.
“Today, we presented a joint memo with the Federal Ministry of Finance in which we seek the approval for a loan facility of about 950 million Euros translated probably to 1.2 billion dollars. “This is going to be a major revolution in the agriculture sector, that we have never seen before,’’ he said.
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