The Green Imperative programme was launched by Vice President, Yemi Osinbajo in 2018 and influenced by the More Food International Programme of the Brazilian Government to maximize productivity of smallholder farms with the provisions of tractors.
The new loan is from the Development Bank of Brazil and the Deutsche Bank. Insurance for the program will be provided by Islamic Corporation for Insurance of Export Credit under Islamic Development Bank; Brazilian Guarantees and Fund Management Agency and will be coordinated by Getulio Vargas.
Brazil launched a program called “More Food International Programme” and Nigeria decided to join under Nigeria – Brazil Bilateral in June, 2016. The interest rate is 3% for 15years, and 2 years moratorium from Deutsche Bank.
From the loan, six motor assembly plants will be reactivated. These plants will receive annual import of 5000 tractors and other implements for a period of 10 years. 632 mechanization service centers to support primary production in the 774 LGAs and FCT including Gwarinpa, would also be created. Private sector operators will manage all the service centers and assembly plants. No single money will exchange; just equipment.
Nigeria, as at today, has only 7,000 functional tractors. So, Brazil / Deutsche Bank / Islamic Bank will not ask for your religion or political affiliations, but would determine whether you are competent, in running the center and assembly.
100,000 extension workers will be trained and thousands will benefit, indirectly. In sum, the Brazil government is just a guarantor.
