Green Imperative: $1.1bn loan to create Jobs, food security- Zainab — Nigerian Pilot News
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Green Imperative: $1.1bn loan to create Jobs, food security- Zainab

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Zainab Ahmed (Nigeria’s Chancellor of the Exchequer)

Minister of Finance, Zainab Shamsuna Ahmed, has stated that the $ 1
billion loan facility under the ‘Green Imperative’, which is one of the
products of the diversification initiatives of the Federal Government, will
create massive jobs, food security, and food self-sufficiency in all the 774
Local Government Areas of the nation.
Ahmed stated this yesterday in a statement signed by the Special Adviser
to the Minister of Finance on Media and Communications, Paul Ella Abechi,
during official launch of the project by the Vice President, Prof Yemi
Osinbajo, at the Presidential Villa in Abuja.
Meanwhile, expressing optimism about the positive results the loan will
yield under the ‘Green Imperative’ initiative in the agric sector, she said
there is no doubt that the project will transform economic landscape of the
country.
She maintained that nothing will deter President Muhammadu Buhari from
continuing with the diversification drive that is already yielding positive
results within three years, especially through the agricultural sector.
She also commended the Vice President’s commitment towards securing
the loan from Brazil following his personally held meetings with Team of
Experts from Brazil and his strong support for the project which has made
the launching of it a reality including the resilience demonstrated by the
Minister of Agriculture and Rural Development, Chief Audu Ogbe, who had
personally led Nigerian delegations to Brazil to initiate and develop the
project with the Brazilian ’think tank’ and relevant stakeholders.  
According to her the ‘Green imperative’ was designed to promote
agricultural mechanization, create employment opportunities for the
energetic youth and help achieve food self-sufficiency and added that more
details about the project will be explained by the Minister of Agriculture and
Rural Development.

She said: “The project we are launching today will be implemented with a
total loan package of US$1.1billion majorly from the Brazilian Government
which will be disbursed in four tranches over a period of two years.
“l have no doubt that this project will help to ensure food self – sufficiency,
create more employment opportunities for our teeming population and also
help transform the economic landscape of Nigeria.
“It is pertinent to state here that greater percentage of the loan will be
provided in kind through the supply of agricultural machineries and
implements in form of Completely Knocked Down (CKD) parts.
“This arrangement is expected to reduce fiduciary risks and create more
employment opportunities for our teeming youth and those that will be
involved in assembling the machineries and implements.
“Another important benefit of the project is that its implementation will be
purely private sector led in all its operations including the assembling of the
machineries/ implements, operation of the service centres and the agro-
processing centres.
“The project will be implemented in all the 774 Local Government Areas of
the country in phases. Let me use this opportunity to sensitize the Nigerian
private sector, youth and women to get ready for business. The selection of
the participants in this project will be done on merit as our concern is
nothing but the success of the project. We will ensure that participation is
devoid of politics and any form of nepotism.”
The Minister also commended the Brazilian government’s support and
commitment to the project.
“Let me at this point thank the Government and people of Brazil for their
support and commitment to this project. Nigeria and Brazil have similar
climatic and soil conditions that make Brazilian agricultural implements
easily adaptable in Nigeria. I understand that a tractor manufactured in
Brazil in 1946 is still in use till today.
“This is the kind of technology that we will need in this country. I do hope
such rugged tractors are what you will deploy for this project. I will like to
express my appreciation to other partners like the Deutche Bank and

Islamic Corporation for the Insurance of Investment and Export Credit
(ICIEC) for their support in this project”, she stated.

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