Recently, the Nigerian Incentive Based
Risk Sharing System for Agricultural Lending (NIRSAL) launched a programme for smallholder farmers, farmer leaders and aggregators to
key into its Agro Geo-Cooperative model.
In a statement on
their website, this programme is geared towards creating 16,000 Agro
Geo-Cooperatives (ranging from 10 hectares to 20,001 hectares and above) on 4
million hectares of farmland. It is also aimed at enrolling about 8 million
farmers across Nigeria who are expected to produce about 12 million metric
tonnes of Grain Product Equivalent (GPE) annually over the medium to long term.
This facility can be
accessed across all state in Nigeria including the FCT. Interested farmers are
to obtain further information and guidelines via www.nirsal.com/agrogeocoop
It is noteworthy to state that NIRSAL is
a non-bank financial institutional bank owned by the Central Bank of Nigeria
(CBN) with the aim of attending to agribusiness related credit risk in the country. It is premised on five pillars which are: Risk
Sharing, Insurance, Technical Assistance, Rating, and Incentive Mechanism.
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