N500 million loans given to Nigerian farmers
Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, says no fewer than 4,630 farmers in Nasarawa State have received loans from the agency since 2017 when it began operation in the state.
NIRSAL, an agency under the Central Bank of Nigeria, was established to create a link between the agricultural value chain and the financial sector in order to boost productivity, food security, and the profitability of agric business in Nigeria.
Speaking in Lafia on Thursday at the NIRSAL stakeholders 2022 Engagement, the Head, Projects Monitoring, Reporting and Remediation Office, Noel Dilli, said N500 million had been given as loans to farmers in the state to improve their productivity.
Dilli said the objectives of the meeting were to have a one-on-one with the stakeholders in the field across all the agricultural value chain segments; showcase NIRSAL’s achievements throughout their 5 years in the state; showcase some of NIRSAL service offerings; demonstrate the agency’s commitment to fixing Nigeria’s AVC and its vision for the future.
He urged farmers who were going through financial challenges to approach the agency for loans, assuring them of the agency’s cooperation at all times.
He said, “NIRSAL Plc in order to realise it’s vision of transforming the economy and to deliver inclusive growth which will positively impact on the lives of Nigerians, have been supporting all sizes of businesses, whether small, medium or large across the length and breadth of the country and we hope to do more for the people.
“Since the year 2017, we have been able to give loans to 4,630 farmers in Nasarawa state. We earmarked N500 million for the project and so many of the farmers benefited from across the 13 Local Government Areas of the state.