Economy

Nigeria’s Minister signs $523,823 TA Agreement Grant with Islamic Devt Bank in Morocco

 

Nigeria’s Minister of Finance, Mrs Zainab Shamsuna Ahmed has signed a $523,823 (N185,957,165 million) Technical Assistant Agreement grant with the Islamic Development Bank (ISDB) Group, in Marrakesh, Morocco.

According to a statement signed by the Special Adviser to the Minister of Finance on Media and Communications, Mr Paul Ella Abechi, the Minister signed on behalf of the Federal Government and 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 with the theme, ‘Transformation In A Fast Changing World: The Road To SDGs’.

The Minister in her explanation said 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.

She added that the National Hajj Commission of Nigeria (NAHCON) gets $243,823.0, and the Federal Ministry of Industry, Trade and Investment gets $280,000 respectively.

She said, “The Technical Assistant Agreement Grant of $243,823.0 to the National Hajj Commission of Nigeria for capacity building/equipment and logistics upgrade.

“TA grant of $280,000 to the Federal Ministry of Industry Trade and Investment for the improvement of cotton, textile and garment value chain.”

Meanwhile, the Minister told participants at the conference that state governments in Nigeria are doing their best to boost agriculture and food production.

“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”, she stated.

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