NIRSAL introduces new financing models for Kwara farmers

Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has introduced credit risk guarantee processes and agro geo-cooperative financing models to enhance farmers’ access to loans and boost food production in the country.

Speaking at a two-day capacity development programme for Kwara State cassava farmers and extension agents in Ilorin, the  Team Lead of the trainers, Adaku Obikwere, said that the training focused on project structuring, access to finance, and sustainability within the cassava value chain in Kwara.

Obikwere also said that participants were trained on modern and efficient value chain operations.

“This program aims to fix the agricultural value chain by connecting farmers and input suppliers to every segment of the chain, all the way to the market”, said Obikwere.

She emphasized that boosting farmers’ production capacities in Kwara state, a significant cassava-producing region in North-Central Nigeria, would lead to increased productivity, job creation, and thriving rural economies.

“The initiative, part of NIRSAL’s Technical Assistance pillar, seeks to enhance farmers’ capabilities to qualify for, obtain, and repay commercial loans. Similar training programmes are being conducted simultaneously across the South-East, South-West, and North-West regions”, she said.

Also speaking, Special Adviser to the Kwara State Governor on Farmers’ Intervention, Hon. Abdullahi Sulaiman, commended the efforts of the present administration in the state.

He said the capacity development programme is expected to significantly impact the agricultural sector, fostering sustainability and economic growth in the state.

According to him “The administration of Governor AbdulRahman AbdulRazaq is implementing various measures and collaborating with different stakeholders to ensure zero hunger and boost food security in the state.”

Sulaiman reiterated the administration’s commitment to enhancing agricultural productivity and supporting farmers through strategic partnerships and interventions.

NIRSAL, a non-bank financial institution wholly owned by the Central Bank of Nigeria (CBN), covers 18 commodities, including crops, livestock, poultry, and fishery sectors, underscoring its comprehensive approach to agricultural development.