NIRSAL to invest N63bn in agric lending in 2017

The Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) is investing $200 million (about N63bn) in agricultural lending this year.

This is in addition to $320m the agency invested between 2013 and 2016.

The NIRSAL Managing Director/CEO, Mr Aliyu Abdulhameed, disclosed this yesterday in Abuja at an inhouse activity to market the World Earth Day celebrated every April 22nd.

Incorporated in 2013, NIRSAL is a public private partnership charged with the design, pricing and sharing in agric business related credit risks.

It is designed with the objective of enabling the flow of affordable financing to all players along entire agricultural value chains. It reduces the risks of financing institutions while granting agricultural loans.

“It is noteworthy that between 2013 and 2016, it facilitated about $320 million in credit and additional lending in the agricultural sector and our projected target for 2017 is a minimum of $200 million (about N63bn),” Abdulhameed said.

The in-house workshop for staff had presentations from various stakeholders on the dangers of harmful practices on the environment and the need to ensure environmental sustainability for the future generation.

The NIRSAL MD disclosed that as part of the agency’s commitment to environmental sustainability, it is launching the Greening The Cities (GTC) project which will see a major street in the state capitals nationwide adopted by NIRSAL where it planted trees in partnership with school pupils.

“The project also underscores NIRSAL’s focus on taking full advantage of global best practices in sustainable and climate friendly agricultural practices in pursuit of its mandate to de-risk the agricultural value chain in Nigeria,” the MD said.

He said “as part of the strategic CSR campaign, NIRSAL and its partners would collaborate with selected primary schools across the country to effectively transfer knowledge and skills that would promote Environmental and Climate Literacy.”