Presidency Signs $523,82m Agreement With Islamic Bank

The federal government and   government from Morocco have entered a Technical Assistant (TA) Agreement grant worth a whooping  $523,823 (N185, 957,165 million) with Islamic Development Bank (ISDB) Group.

According to a statement signed by the Special Adviser to the Minister of Finance on Media and Communications, Mr Paul Ella Abechi, both countries signed the agreement in Marrakesh,Morocco.

It further noted that the Nigeria  Minister of finance Zainab Ahmed signed on behalf of the Federal Government while President of the ISDB Group, Dr. Bandar M. H. Hajjar, signed on behalf of the Group, at the 44th ISDB Group Annual Meeting held in Marrakesh, Morrocco.

The Minister told participants at the conference that state governments in Nigeria are doing their best to boost agriculture and food production,adding that, “State governments in Nigeria are adopting cluster farming which has eased access to funds by farmers, increased growth and allows access to facilities without collateral.”

The statement added that “the National Hajj Commission of Nigeria (NAHCON) will get $243,823.0, for capacity building/equipment and logistics upgrade while the Federal Ministry of Industry, Trade and Investment will receive the balance of $280,000 for the improvement of cotton, textile and garment value chain.”

“The TA agreement grants would be used to address capacity building/equipment and logistics upgrade in the Hajj Commission and for the improvement of cotton, textile and garment value chain in the Federal Ministry of Industry, Trade and Investment.”