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The Federal Executive
Council has approved a loan of one hundred and fifty two million dollars from
the African Development Bank to develop Nigeria’s agriculture sector.
The Minister of
Agriculture, Doctor Akinwunmi Adesina told newsmen at the end of the weekly
meeting of the council in Abuja said the loan which attracts one point five
percent interest rate is repayable in twenty two years.
He said the loan would be
used to develop infrastructure such as water, roads and power in rural areas as
well as the development of Staple Crop Processing Zones across the country.
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