Nigeria incentive based risk sharing system for agriculture
Written by News Room on March 9, 2022
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has facilitated the flow of over 73 billion naira into Nigeria’s Agro Processing industry from various sources.
The Managing Director/CEO of NIRSAL Plc., Aliyu Abdulhameed, who said this on Tuesday in Abuja, said that to date, the company has paid over 1.64 billion naira, thereby reducing the effective interest rate for borrowers with a good credit history.
According to him, the sources include; deposit money banks, development financiers, private equity investment firms and other financial institutions.
The support is part of its mandate of creating a stronger linkage between segments of Nigeria’s Agricultural Value Chain (AVC) and subsequent AVC-linkage to commercial bank finance.