The Chinese government has offered Nigeria a $4.5 billion loan for agricultural machinery and infrastructure.
A Reuters report said the Zamfara State governor, Abdulaziz Yari, disclosed this to reporters in Abuja, on Tuesday.
Yari, who is the chairman of the Governors’ Forum, said the loan had a 20-year repayment period, at an interest rate of one percent.
“China is giving us a credit line of $4.5 billion for the procurement of strategic machinery for rural development and agriculture,” Yari said.
He added that the minister of agriculture, Audu Ogbe, would present the offer to cabinet members at the Federal Executive Council meeting, on Wednesday.
It would, thereafter, be forwarded to the National Assembly for final approval.
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