NIRSAL disburses fresh N2.63 billion to 24,732 rice farmers

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending NIRSAL, an initiative of the Central Bank of Nigeria, on Thursday said it had successfully disbursed N2.63 billion to 24,732 rice farmers for the 2017 planting season.

The Managing Director/Chief Executive Officer, Mr. Aliyu Abdulhameed, stated this while delivering a keynote address at the Nigeria Agribusiness Group Conference. He spoke on the theme “Harnessing agricultural potential for food security, youth development, nutrition and wealth creation.”

NIRSAL was set up to catalyze a national agricultural revolution by encouraging investment by banks and the entire financial sector into the agricultural sector. Abdulhameed said the disbursement of the funds to the rice farmers was in continuation of its mandate to facilitate the flow of finance to the agriculture sector.

This, it said, would help to achieve the objectives of the Economy Recovery Growth Plan of the Federal Government to diversify the economy, attain self-sufficiency in food production and entrench inclusive economic growth.

Photo Caption: Nigeria Incentive-Based Risk Sharing System for Agricultural  (NIRSAL) Managing Director/Chief Executive Officer, Mr. Aliyu Abdulhameed