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Germany’s Deutsch Bank Pours €995m into Agric Hubs in 774 LGs

The Federal Government has signed an agreement with the Brazilian Government and German Deutsch Bank Group as financiers of a facility of 995 million euros for the Green Imperative Programme.

The programme will provide mechanization hubs across the 774 local government areas in Nigeria when implemented, minister of agriculture and food security, Abubakar Kyari said in Minna Tuesday.

“A memorandum of understanding between the Federal Government and the John Deer Group, a subsidiary of Tata Equipment, was signed.

“The manufacturer has signed to deliver 10,000 units of tractors and implement in tranches of 2,000 units per annum for the next five years.

“The Greener Hope Initiative is another veritable platform the federal government is deploying to ultimately change the deficit narrative in the Nigerian agricultural mechanization space,’’ he added.

Kyari spoke at the ceremony to launch the Food Security and Agricultural Mechanization Programme of Niger State. It was attended by President Tinubu and several state governors.

Appreciating the President for honouring his invitation and inaugurating the facilities, Governor Mohammed Umar Bago said four states, Benue, Kogi, Kwara, and Lagos have signed memoranda of understanding on building partnerships for the development of agriculture.

“Mr. President, your presence here today underscores the importance of this occasion for our state in particular and Nigeria as a whole, as we gather to celebrate a good example demonstrated in our modest contribution to infrastructure and agricultural development encapsulated in our New Niger Agenda.

“For us, agriculture is key to addressing the challenges in critical sectors of our economy, and we shall seize every opportunity for the attainment of growth and engender prosperity for the people of our beloved state and by extension our country, Nigeria,” the Governor said.

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