FG Seeks ¥15bn Japanese Loan to Tackle Food Insecurity
The Federal Government is negotiating a ¥15bn ($110m) loan from Japan’s JICA to boost food production and support farmers amid inflation and global supply issues.
Finance Minister Wale Edun and Agriculture Minister Abubakar Kyari met with JICA officials on Wednesday to fast-track the loan. Core production efforts will begin immediately, while other components await review.
The loan is part of President Tinubu’s $21.5bn borrowing plan. If approved, Nigeria’s debt to JICA will rise to $163.31m.
