(Adds quote, details)
ABUJA, April 4 China has offered Nigeria a $4.5
billion loan for agricultural machinery and infrastructure, a
Nigerian state governor said on Tuesday.
Zamfara state governer Abdulaziz Yari said the loan had a
20-year repayment period at an interest rate of 1 percent.
"China is giving us a credit line of $4.5 billion for the
procurement of strategic machinery for rural development and
agriculture," Yari, who chairs the forum of Nigeria's state
governors, told reporters after a meeting with the president and
Nigeria, Africa's biggest economy and an OPEC member, is in
its first recession in 25 years largely due to low oil prices.
The government has prioritised growth in the agriculture sector
to reduce its reliance on crude oil sales, which make up
two-thirds of government revenue.
Agriculture minister Audu Ogbeh said he and the governor
briefed the president on "developments following our visit to
China in April last year" and the progress of negotiations on
issues related to agricultural machinery.
Yari said the loan offer would be presented to cabinet
colleagues on Wednesday and considered by lawmakers for final
(Writing by Alexis Akwagyiram; editing by John Stonestreet and