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The Nigerian Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), plans to facilitate about N60 billion in fresh commercial bank lending to farmers in the current financial year.
The agency also said it will execute the $300 million African Development Bank, AfDB’s Youth Enable Programme, and operationalising the $500 million Mechanisation Partnership with the Brazilian Government and a host of others.
The moves are geared toward enhancing access to credit by farmers as well as making agribusiness more attractive to the youths to curtail the high rate of rural-urban migration. The Managing Director of NIRSAL, Aliyu Abbati Abdulhameed, disclosed this in Lagos, last week, while delivering a paper titled: “Powering Nigerian Agriculture Through Innovative Financing: The NIRSAL Edge” at the BusinessDay Agribusiness & Food Security Summit 2017.
