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 Presidential Villa, Abuja.
The virtual meeting was presided over by President Muhammadu Buhari.
Nanono said the planned mechanisation of agriculture would span across 632 local governments, NAN reports.
“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 loan is for the purpose of agricultural mechanisation in this country –that will cover about 632 local governments plus 140 processing plants.
“This is going to be a major revolution in the agriculture sector, that we have never seen before,’’ he said.
Also speaking, the Minister of Power, Malam Sale Mamman, said the ministry sought approval for the revised estimated total cost for the augmentation of the subsisting contract in the sum N47.2 million.
That the government even had to announce yesterday that the grains carted away at the Silos in Ado Ekiti yesterday, were meant for planting shows the highest level of corruption and insensitivity on the part of the government,” the statement said.
The party doubted the truthfulness in the Governor’s claim, wondering why the grains are kept till the planting season is over if they were actually meant for planting.
“Again, we saw sugar, noddles, Lab Coats meant for health personnel, disinfectant chemicals and hand sanitizer packs. Were those items also preserved for planting? The party asked.
“Even though the Fayemi-led APC government has lost ace with the people and it is certain that the party will be sent out of power in 2022, we still have a duty to call on the governor to review its style of administration to make life easier and more meaningful for the people.”