Home NEWS NIRSAL Facilitates over N148 Billion For Agribusiness – MD

NIRSAL Facilitates over N148 Billion For Agribusiness – MD

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The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL) has facilitated the facilitated over N148 billion in finance and investments for agriculture and another flow of over N30 billion into agricultural value chains from commercial banks and other sources.

Managing Director of the company, Aliyu Abdulhameed, disclosed this at a media briefing in Abuja. He said that NIRSAL, an initiative owned by the Central Bank of Nigeria (CBN) facilitated over N148 billion in finance and investments for agriculture

“In the course of the last 13 months, we facilitated the flow of over N30 billion into agricultural value chains from commercial banks and other sources.

“Even though our operations suffered a stall during the lockdown of 2020, our technological depth gave us a pathway to return to work while remaining safe and socially-distanced. As you know, it was important to continue, even increase, food and raw materials production as the pandemic bit harder.

“As enablers of actors in the agricultural value chain, we remained operational for those who were allowed by the Federal Government to move around for the purpose of producing food and rendering essential services in the society.

“ As at the fourth quarter of 2020, we facilitated over N148 billion in finance and investments for agriculture and agribusiness; aggregated over 3,000 agro geo-cooperatives with 500,000 farmers on nearly 800,000 hectares of land, and enrolled 1.4 million persons onto innovative insurance products designed by NIRSAL in collaboration with a consortium of agricultural insurance underwriters.” Mr Abdulhammed listed the organization’s achievement.

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