Agro Commodities-Novus Agro Commodity Index (NANCI)
In the company of the Minister of Agriculture, Chief Audu Ogbeh after a closed-door meeting with President Muhammadu Buhari in Abuja recently, the Zamfara State governor revealed that China has agreed to offer a loan value at $4.5 billion to fund agriculture projects in Nigeria.
The governor explained that this development was as a result of President Muhammadu Buhari’s visit to China last year even as he stated that the Chinese government in cooperation with the People’s Bank of China and the Federal Ministry of Agriculture were part of the negotiations.
According to him “They are giving us a credit line of $4.5 billion which will cover the types of machinery and infrastructure, that is rural earth dams, irrigation, and the loan has a 20 years repayment term with five years moratorium”.
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Chiamaka Onyebuchi, Digital Marketing Strategist, Novus Agro Nig.