Brazil injects $1.1 billion into Nigeria's agricultureStaff Writer | October 27, 2018
Despite Nigeria's allocation of hundreds of billions of Naira to Agriculture in 2018, some critics claim nothing has been done in the sector.
LatAm Successive Nigerian governments have continued to pay lip service
Successive Nigerian governments have continued to pay lip service to the diversification of the country’s economy towards Agriculture. As crude oil revenues are still huge, the country, blessed with largely arable areas and good weather is unable to tap into the many benefits which agriculture provides.
The current administration which is facing a big re-election battle in 2019 and can only be in power for another 4 years is seeking a loan investment from Brazil to revive its Agricultural sector - which has nothing to show for the almost 1 Trillion Naira which government claims to have made available in the last 3 years.
The Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo, says Brazil will soon inject 1.1 billion dollars into Nigeria’s agriculture. According to him, Brazil will help to transform Nigeria’s agriculture with the fund by establishing a tractor assembly plant in Bauchi State. ■