Niger State Secures $650M Financing from John Deere for Agricultural Equipment.

[Adawebs]

 Niger State Secures $650M Financing from John Deere for Agricultural Equipment.



Niger State has successfully secured a substantial investment of $650 million from John Deere, the renowned equipment manufacturer based in Des Moines, Iowa, USA.

The equipment will be used for land development and the preparation of 1 million hectares across the state in approximately 100 different farm estates, each averaging 10,000 hectares.

This initiative seeks to produce about 10 million tons of food annually to support President Bola Tinubu's food security agenda.

The equipment includes 600 high-capacity tractors (100-430hp), 200 high-capacity combine harvesters, 200 bulldozers, 200 excavators, and thousands of other implements, including the latest technology in planters, sprayers, fertilizer spreaders, etc.

The investment is coming at the right time as the State has recently procured 300 tractors separately to be delivered this January, in addition to a range of other large-scale agricultural machinery.

Governor Bago is rapidly changing and advancing the state towards realizing its full potential in the agricultural sector. With its large landmass, the state is uniquely positioned to become a major food supplier within and outside Nigeria. Niger State is taking its rightful place as a critical player in agriculture.

The State already ranks as one of the largest producers of paddy rice in Nigeria. It is also known to have the largest deposit of shea butter in the country, further confirming its status as an agricultural powerhouse.

This latest investment from John Deere is expected to enormously boost these capacities, contributing to both local and national food security and economic growth.

[Adawebs]