NIRSAL
FeaturedHighlightTrending Story

NIRSAL links farmers, agri-businesses with commercial banks for affordable, sustainable financing

120

 

 

 

By Ajuma Edwina Ameh

As Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc), continues to assist farmer-groups and agri-businesses, the organization says it only links farmers and agri-businesses with commercial banks for sustainable access to affordable and cheap financing.

The financing is done through its Agro Geo-Cooperative (AGC) model.

According to the non-bank financial institution, wholly-owned corporation of the Central Bank of Nigeria (CBN), the lack of access to sustainable commercial finance by farmers in Nigeria remains an obstacle to socio-economic growth.

To address the issue, NIRSAL Plc developed its AGC model which links farmer groups with commercial banks’ financing as well as financiers with farmer groups and agri-businesses in need of finance.

Read Also:Crass neglect of Niger Delta, hatred, disdain for its people by Buhari Govt is a keg of gunpowder ready to explode – 95-year-old Clark

Making the disclosure through its official social media pages — Facebook and Twitter — the organization noted that its financing frameworks present a window of financing to address working capital constraints associated with specific segments of agricultural value chains.

“In line with the NIRSAL AGC model’s processes, we met with Amodad Poultry Farmers Association, in Potiskum LGA of Yobe State, to agree on the Economics of Production (EOP) for poultry and to conduct an assessment of the group’s farm.

“In Gombe and Sokoto State respectively, we sensitized farmers in Tula community and members of Jabraka AGC, on the NIRSAL AGC formation process and how as structured farmer groups they could access commercial finance,” NIRSAL wrote.

 

Leave a comment

Related Articles

FAAN shuts down KFC outlet at Lagos Airport over discrimination against ex-Gov Daniel’s son

Barely 24 hours after Debola Daniel, son of former Ogun State Governor...

Atiku’s campaign DG switches loyalty, drums support for Tinubu, Fubara

A chieftain of the People’s Democratic Party (PDP) in Rivers State, who...

Just in: FCT court discharges, acquits ex-AGF Adoke in OPL 245 fraud charge

The FCT High Court in Jabi, Abuja, on Thursday dismissed the charges...

63-year-old woman, teenage girl, two others killed in U.S. stabbing spree

A man armed with a knife went on a stabbing spree in...

FG to collect only nine types of taxes, says FIRS chairman

The Federal Inland Revenue Service (FIRS) says in line with the presidential...

After 14 days in detention, First News editor, Segun Olatunji, breathes air of freedom

The Editor of FirstNews, a digital newspaper, Segun Olatunji, on Thursday regained...

N3trn budget padding: Sen. Ningi threatens legal action if suspension is not lifted in seven days

Abdul Ningi, the senator representing Bauchi Central, has given Senate President Godswill...

Eniola Ajao apologizes over “AJAKAJU” movie premiere controversy

Actress Eniola Ajao has issued an apology to the public in the...

Ex-Presidential media aide, Akande criticises LP’s leadership, urges party’s alignment with national interest

Mr. Laolu Akande, a former presidential assistant, has expressed dissatisfaction with the...

Economic hardship: Ogun Govt. begins sale of rice at 50 percent price reduction to workers, public

Ogun Governor, Dapo Abiodun, has announced that his administration will start selling...

FG committed to steel industry revitalization to drive infrastructural development, says Industry Minister, Dr Uzoka-Anite

The Federal Government is committed to industry rehabilitation, with a focus on...

Easter: FG declares Friday, March 29, Monday, April 1 public holidays

The Federal Government has declared Friday, March 29, and Monday, April 1,...

Fake, unwholesome products: NAFDAC seals 10 bakeries, 8 table water factories in Rivers

The National Agency for Food and Drug Control (NAFDAC) has shut down...

Climate change, food security: AfDB approves $50 million for Yobe State

The African Development Bank Group (AfDB) has granted a $50 million loan...

Ex Guinea-Bissau President’s Son Jailed in U.S. for Drug Trafficking

Malam Bacai Sanha Jr, the son of a former president of Guinea-Bissau,...

Few weeks to party primary, leading Ondo APC governorship aspirant, Dr. Paul Akintelure, passes away

Dr. Paul Akintelure, a prominent candidate for governorship in Ondo State who...

IPOB, bandits using betting sites, crowdsourcing to finance terrorism – NFIU

The Indigenous People of Biafra (IPOB), bandits, and other terror organizations are...

EU launches €9m energy projects in Nigeria

The European Union (EU) has unveiled two new initiatives worth €9 million...

Don’t sell dollar above N1,269, CBN orders Bureau de Change

As part of measures to strengthen the naira against the dollar, the...

U.S. state bars under-15 children from having social media accounts

Florida State Governor Ron DeSantis has signed a bill prohibiting children younger...