The Federal Government is targeting five million jobs with its new agricultural revolution tagged: “The Green Imperative”.
It plans to invest some $1.2 billion in the scheme, which has it said will inject $10 billion into the economy within the next 10 years.
According to the government, the scheme will attract six tractor assembly plants in the nation’s geopolitical zones and 142 agro processing service centres.
It said the scheme will be implemented over a period of 5-10 years with foreign funding which was described yesterday as “loan-in-kind”.
Information, Culture and Tourism Minister Lai Mohammed and Agriculture and Rural Development counterpart Sabo Nanono gave the details on the programme at a joint briefing in Abuja.
Mohammed said: “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, mechanised farming and lead to the emergence of value-added agriculture, among other benefits.
“The Vice President launched “The Green Imperative” programme officially on 17 January, 2019 in the presence of the representatives of the Federative Republic of Brazil, Deutsche Bank as well as Brazilian and Nigerian private sector.
“The programme, worth $1.2 billion, is to be implemented over a period of 5-10 years with funding from the Development Bank of Brazil (BNDES) and Deutsche Bank; with insurance provided by Brazilian Guarantees and Fund Managements Agency (ABGF) and the Islamic Corporation for Insurance of Export Credit (ICIEC) of the Islamic Development Bank (IsDB), and coordinated by Getúlio Vargas Foundation (FGV).