Inject an extra N30 billion to the agricultural sector to create more agro-allied jobs by way of loans at nominal interest rates for capital investment on medium and commercial scale cash crops
We were not able to not establish the exact amount the Buhari administration spent on agriculture in loans for capital investment in cash crops.
The bank reportedly said the funds were disbursed as loans to 250,000 farmers who cultivated 300,000 hectares of farmland. Nigeria has recorded a boost in the production of crops like rice as a result of the programme.
However, the country still struggled to meet local demand for other commercial crops such as wheat.
In June 2020, the federal government announced “The Green Imperative”, a $1.2 billion Nigeria-Brazil agricultural development programme to be implemented over 10 years.
– Africa Check, updated May 2022.