-2.1 C
New York City
Wednesday, April 24, 2024
Home NEWS Nigeria Mechanized Farming: Nigeria Signs MoU on 10,000 Tractors

Mechanized Farming: Nigeria Signs MoU on 10,000 Tractors

The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with John Deere to supply Nigeria with 2000 tractors yearly in the next five years.

According to the Minister of Agriculture and Food Security, Abubakar Kyari, the move is geared towards solving the problem of land preparation and mechanised farming across the country.

The Minister noted that the disparity between total arable land and those available for cultivation is partly due to the unavailability of tractors for farmers.

He said“Then the issue of ‘tractorisation’. We have an MoU with John Deere where they are expected to supply 2,000 tractors per year for five  years, but they are going to sell those tractors under a financing agreement.”

“And we have engaged the bank of agriculture to also come up with the modalities about how we can now give low-interest loans to farmers to get those tractors for those that are interested in it.”

The Minister also explained that beyond the MoU with the company, the federal government is also looking at ways to ensure farmers without the capacity to afford the tractors get to hire them through the “green imperative program”.

He noted that it is a $1 billion project financed by Deutsche Bank where service centres will be established across the 774 LGAs in the country where farmers can hire tractors as well as access other agro-related services.

©Copyright MOTORING WORLD INTERNATIONAL. All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International

Contact[email protected]


Most Popular

FG Sets Targets for Made-in-Nigeria Vehicle Production

While the National Auto Industry Development Plan(NAIDP) still awaits presidential ascent, the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has expressed Nigeria's...

Nigeria Customs Warns Against Fake Vehicle Auctions Video

The Nigeria Customs Service (NCS) has warned the general public to be wary of illegal platforms announcing a purported auction of vehicles. The Service issued...

All-new Electric Mercedes G-Class Set for World Premiere

TILDA FRANCES Not later than next Tuesday, the anticipated all-new Electric-powered, Mercedes-Benz G-Class will be unveiled to the world. We do not know when Weststar, Nigeria’s...

GAC Motor Partners Salvador Caetano in Automotive Evolution

GAC Motor, in collaboration with Salvador Caetano Group, is set to make a significant impact on the South African automotive market with the introduction...