{"id":10865,"date":"2017-02-15T13:32:41","date_gmt":"2017-02-15T12:32:41","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10865"},"modified":"2017-02-15T13:32:41","modified_gmt":"2017-02-15T12:32:41","slug":"fg-to-establish-300m-agribusiness-loan-project-for-youth-farmers","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fg-to-establish-300m-agribusiness-loan-project-for-youth-farmers\/","title":{"rendered":"FG to establish $300m agribusiness loan project for youth farmers"},"content":{"rendered":"

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, says it will establish a $300m agribusiness loan project for youth farmers across the country.<\/span><\/p>\n

NIRSAL is an arm of the Central bank of Nigeria that provides agribusiness investments credit risk guarantees to help drive economic development through agriculture.<\/span><\/p>\n

The organisation also helps to reduce credit risk in agricultural lending.<\/span><\/p>\n

The Executive Director of NISRAL, Mr Babajide Arowosafe, said in Ibadan on Wednesday that the project would be funded by the African Development Bank.<\/span><\/p>\n

Arowosafe said that the project known as \u2018Youth Enable\u2019, would commence within the next few weeks.<\/span><\/p>\n

He said that the project would be implemented in collaboration with the Federal Ministry of Agriculture and Rural Development.<\/span><\/p>\n

Arowosafe explained that the project would boost economic diversification and create business opportunities and employable skills for young men and women across priority agriculture value chains.<\/span><\/p>\n

He listed some of the value chains to include aquaculture, crops farming, marketing, processing among others.<\/span><\/p>\n

According to him, it will drive youths into looking for values, opportunities within the agricultural value chain and develop business models that will be sustainable over the years.<\/span><\/p>

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He said, \u201cNIRSAL is going to come up in full force on the initiative but what we look forward to is to have youths within some certain age bracket of 18 and 35 years.<\/span><\/p>\n

\u201cWe need youths that are secondary and university graduates that are willing to go into green business, fresh food business, agri-commodities where Nigeria has comparative advantage.<\/span><\/p>\n

\u201cWe can use those productions as fillers for the import substitution agenda of the Federal Government.<\/span><\/p>\n

\u201cThis is purely a commercial venture; you must have a business model that can convince a financial institution.<\/span><\/p>\n

\u201cNIRSAL is bringing on board its risk sharing facility, its technical assistance, cutting edge technology to make sure that we monitor activities of those youths using technology.\u201d<\/span><\/p>\n

The executive director disclosed that the organisation would support the farmers with its risk sharing facilities like guarantee, interest draw back and facilitate insurance for their businesses.<\/span><\/p>\n

He assured youth farmers of low interest rates that would facilitate good business development.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, says it will establish a $300m agribusiness loan project for youth farmers across the country. NIRSAL is an arm of the Central bank of Nigeria that provides agribusiness investments credit risk guarantees to help drive economic development through agriculture. The organisation also helps to reduce credit …<\/p>\n","protected":false},"author":11,"featured_media":8798,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[1557],"coauthors":[2392,2393],"class_list":["post-10865","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-agribusiness"],"yoast_head":"\nFG to establish $300m agribusiness loan project for youth farmers - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fg-to-establish-300m-agribusiness-loan-project-for-youth-farmers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG to establish $300m agribusiness loan project for youth farmers - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, says it will establish a $300m agribusiness loan project for youth farmers across the country. 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