•Guarantees N102billion loans to farmsNigerian Incentive based Risk Sharing System for Agricultural Lending (NIRSAL), has grown its seed fund to nearly N900billion from N720billion at inception in 2013, the Managing Director and Chief Executive Officer, Aliyu Adulhameed has said. NIRSAL was established to de-risk lending to the Agriculture sector in Nigeria. NIRSAL’s mandate is to stimulate the flow of affordable finance and investments into the agricultural sector by de-risking the agribusiness finance value chain, fixing agricultural value chains, building long-term capacity, and institutionalising incentives for agricultural lending through its five strategic pillars. Abdulhameed said the growth of the seed fund, which was a debenture loan from the CBN, has grown by 20 per cent through investment of the seed capital in Government treasury instruments over the years. “Therefore, the sustainability and growth of the agricultural sector is crucial for the development of the country and its people.

Source: The Guardian March 03, 2020 04:17 UTC