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The Federal Government has intensified discussions with the Japan International Cooperation Agency to fast-track the implementation of a ¥15bn (about $110m) emergency loan to improve food security across the country.

This was disclosed in a statement issued by the Federal Ministry of Finance and Coordinating Ministry of the Economy on Wednesday after a high-level meeting involving the Minister of Finance, Wale Edun; the Minister of Agriculture and Food Security, Senator Abubakar Kyari; and senior officials from JICA.

“The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Minister of Agriculture and Food Security, Senator Abubakar Kyari, today met with senior representatives of the Japan International Cooperation Agency to advance the implementation of the Food Security Emergency Loan Support Programme,” the ministry said in the statement.

According to the statement, the $110m facility is designed to support Nigeria’s food production systems and build resilience amid persistent global supply challenges and domestic inflationary pressures.

“The JPY 15bn facility (approximately $110m) aims to support Nigeria’s food production systems and enhance resilience amid ongoing global supply challenges,” the ministry added.

With the rainy season already underway, the ministers stressed the urgency of executing key components of the programme to ensure timely support for farmers and rural communities.

“Both ministers emphasised the importance of swift, coordinated action to maximise impact for farmers and rural communities,” it stated.

JICA, in response, reaffirmed its commitment to the programme but requested formal clarification on proposed implementation changes.

It was agreed that production activities would proceed immediately under the current framework, while other components such as aggregation and financing would be reviewed in line with the original loan terms.

“JICA welcomed the government’s commitment to delivery and requested formal clarification on proposed implementation adjustments.

“It was jointly agreed that core production activities would proceed immediately under the existing framework, while additional components, such as aggregation and financing, would be reviewed in line with the original loan agreement,” the statement read.

The development comes just days after President Bola Tinubu wrote to the National Assembly seeking approval for a fresh external borrowing plan of $21.5bn under the 2025–2026 borrowing framework.

In addition to the $21.5bn request, the President also seeks the legislature’s nod for the ¥15bn loan and a €51m grant to support key development initiatives.

According to the letter submitted to the National Assembly, Tinubu explained that the facilities are aimed at generating employment, promoting skill acquisition, fostering entrepreneurship, reducing poverty, and improving food security.

Meanwhile, data from the Debt Management Office shows that as of December 2024, Nigeria owes JICA $53.31m.

This represents 0.88 per cent of the country’s total bilateral debt and 0.12 per cent of Nigeria’s total external debt.

If the new food security loan is approved, Nigeria’s debt to JICA will rise to $163.31m.

https://punchng.com/fg-seeks-%c2%a515bn-japanese-loan-to-boost-food-security/?fbclid=IwQ0xDSwKuTGRjbGNrAq5MX2V4dG4DYWVtAjExAAEevhfeDTt0WKGUrlau1ERbzNSc5W7SXd25yQ66e2nxG2qh-SaOBM3FsB0lwvA_aem_fUoDMFTzN9hHgdkpOTRAsw

800million dollars claimed to have distributed to vulnerable Nigerians, all gone to personal pockets..

Another sc@m loan about to be collected...

All these loans are not needed, FG just likes to have excess money to ste@l

This is a smart plan to help farmers and bring more food and thanks to president Tinubu for working to get this loan.

God puni5h APC and it's h0pele55 supporters

Tinubu removed subsidy to stop borrowing loans and save money for infrastructure development and food security, now he's borrowing loans to cushion the effects of subsidy removal

😂 You claim to have cleared the IMF debt of the west only to open the borrowing windows of the east?





Only an Agbado govt does that... Govt that can't create or manage assets. We are not even talking about the money accrued from the said subsidy yet...

SoftSport:
This is a smart plan to help farmers and bring more food and thanks to president Tinubu for working to get this loan.

Everything is smart as far as your 20k allowance is in the loan 😂

christejames:
Everything is smart as far as your 20k allowance is in the loan 😂

It’s funny how every good move Tinubu makes suddenly becomes 'a scam' to some people, especially from that one tribe that’s been bitter since their favorite didn’t win. It’s like they’re praying for failure just to say 'I told you so,' even if it means the country burns. Sorry, but leadership isn’t based on emotions or ethnic bias it’s about results. And whether you like it or not, the man is making moves.

Another one?

Ah don die

They told us they are self sufficient and the worst is over. Continue to deceive yourself and blindly follow a man that has no direction.

Haaa! Them don enter Japan loan..? Never heard of Japan laon before oooo

Small time we go enter Singapore loan

Borrow- Borrow government please go and learn from Burkina Faso

Shame Shame Shame. !!!!

We can solve these problems ourselves without all these borrowing

Please whr is the subsidy money.

During GEJ administration, in the 2 months that subsidy was suspended we had Sure-P and other Federal Government projects that lasted over 1 year, just from 2 months of suspended subsidy payment all these projects were financed.

It's been 2 years now that Tinubu completely scrapped Subsidy payment, please where is the money saved. Where's the trillions APC claimed will be saved if subsidy is scrapped.

Nigerians have endured enough, where is all the money!

Umm… see some mumu defenders of FG up there, like we aren’t in Nigeria again. Corruption cases to erupt after this regime is gonna shock the devil himself

Country is going down the drain

Maxymilliano:
https://punchng.com/fg-seeks-%c2%a515bn-japanese-loan-to-boost-food-security/?fbclid=IwQ0xDSwKuTGRjbGNrAq5MX2V4dG4DYWVtAjExAAEevhfeDTt0WKGUrlau1ERbzNSc5W7SXd25yQ66e2nxG2qh-SaOBM3FsB0lwvA_aem_fUoDMFTzN9hHgdkpOTRAsw

If God doesn’t arise for this country, & the people refuse to stand up and fight for the future of the country, soon it would become a desolate place, where no sane human can inhabit.

In spite of all the money being realized from subsidy removal
All the money from increased VAT
All the money from bank transfer charges
Etc Etc.

They are still borrowing.

These people are shameless.

Are we even poor or lacking money as a country to start with?

SoftSport:
This is a smart plan to help farmers and bring more food and thanks to president Tinubu for working to get this loan.

why not just collect the money from EFCC instead of borrowing?

With the way this country is going, FG will still borrow from somalia. Nigeria has literally turned to Alumanjiri .

Borrow borrow make me rich form of government 😂😂

Another borrow and loot spree

Onigbese Government continues from where Buhari stopped

Beggy beggy government, go and tackle the herdsmen menace first before talking of food security.

Him= i will dismantle the economy and reduce the purchasing power of the people, while shettima will handle security

Barbarians= Sia baba, Sia baba, on your mandate we shall stand, obi wll never be president .

Anyways, na statistics we go chop

But Tinubu and is online urchins said that subsidy removal will perform and do magic is subsidy removal no longer working . TBH Nigeria has been better sarcastically since Tinubu regime policy and subsidy removal.
Borrowing from Japan for food security is a big shame under the watch of the master strategist
Meanwhile, Dollar is no longer lootable again bcs Trumpet is on the throne. Loot is now in Yen, Tinubu is working on deed

SoftSport:
This is a smart plan to help farmers and bring more food and thanks to president Tinubu for working to get this loan.

How about stopping religious exercises like festival subsidy, worship centres funding to achieve this farmer input loan?

Renewed corruption criminals

SoftSport:
This is a smart plan to help farmers and bring more food and thanks to president Tinubu for working to get this loan.

to help him and his family and bring more money to His Pocket .

Ha, they have reached Japan
110 million dollars is not up to what a Nigerian government official steals in one swoop