Minister of Budget and Economic Planning, Senator Atiku Bagudu

Manufacturing, agric sectors to receive N200bn FG support ­– Minister

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Manufacturing and the agricultural sectors in the country are set to receive N100 billion each in support from the Federal Government, according to the Minister of Budget and Economic Planning, Senator Atiku Bagudu.

Minister of Budget and Economic Planning, Senator Atiku Bagudu

Bagudu who disclosed this in Abuja, during an interactive session with newsmen, acknowledged that the manufacturing sector is facing a serious challenge and as such, the Consumer Credit Fund would help to revive the sector.

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“The Consumer Credit is a veritable tool to provide access to goods and services to a lot of Nigerians. A committee is working on this. It has not been implemented. The money has not been withdrawn. The fund is a catalytic fund and it’s expected to grow,” Bagudu said.

The minister also disclosed that the government is providing N100 billion for agriculture sector. On this, he explained that the fund is supposed to attract more funding so that the mortgage industry will grow bigger.

The government, he noted, has equally made available N100 billion Energy Transition Fund to support the provision of Compressed Natural Gas (CNG) vehicles.

“When fuel subsidy was removed the government quickly provided  N100 billion to support the provision of CNG vehicles which consume less gas than fuel,” the minister said.

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