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Gilbert Ekugbe The Women Leader, All Farmers Association of Nigeria (AFAN) and Director-General/ National Coordinator, LUGAVO, Hajia Halima Njobdi has urged farmers to take advantage of the federal government’s Nigeria Incentive-Based Risk Sharing System for Agricultural Lending and the Nigerian Agricultural Insurance Corporation (NAIC) to safeguard risks exposures of their farming businesses post COVID-19. She added that with the adverse impacts of the COVID-19 pandemic and worsening security challenges in Nigeria’s agric sector, Nigerian farmers have been advised to key into the insuran...

• ADT Russet Ltd to export 4,000MT yearly As the world global cocoa market value hits $67 billion, the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has activated its resources to maximise Nigeria’s participation in the raw material supply chains.   Hence, NIRSAL has provided 50 per cent Credit Risk Guarantee (CRG) on a working capital facility of N1.15 billion to ADT Russet Limited, a cocoa bean-sourcing and exporting company in Lagos State.   Besides the absorption of a substantial part of its risk exposure in the event of loan delinquency, NIRSAL P...

Jennifer Daniel Before the coming on board of the present leadership of the Central Bank of Nigeria (CBN) headed by Mr. Godwin Emefiele, banks hardly lend to farmers, particularly, small holder farmers. In fact lending to the Agricultural sector at the time was like throwing the money away because it was perceived as a high risk area. As a result, lending to the agric sector was a paltry 1.4 per cent of the country’s total lending. This is far below the lending ratios that apply in other high performing developing countries such as Brazil, Mali and Burkina Faso that lend over 10 per cent to...

CEO Today Magazine identifies and honours the most respected companies and their C-Level executives who lead the way for others on a global stage. Some of the NIRSAL achievements that enhanced CEO Today’s reckoning of the institution and its CEO, Abdulhameed, is the facilitation of over $550 million to various actors across agricultural value chains for mechanisation activities, input distribution, and the production, processing, trading and marketing of agricultural commodities. Commercial banks have pledged to provide an additional $500m to fund agriculture in the short to medium-term, NI...

James Emejo The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc has partnered the National Agency for Science and Engineering Infrastructure (NASENI) in a landmark initiative that is expected to create 110,000 jobs. Under the agreement, the risk management agency is engaging NASENI as its technical collaborative partner for the conceptualisation, design, development, deployment, implementation and execution of various schemes/projects under the NIRSAL-NASENI Comprehensive Tractor Recovery Scheme. It will further cover the Modular Geo-Cooperative-Based Irrigat...