Over 4,600 Farmers Get NIRSAL Loans

NIRSAL is an agency under the Central Bank of Nigeria that aims to connect the agricultural value chain (AVC) with the financial sector.

This is to enhance the efficiency, food security, and profitability of the agricultural sector in Nigeria.

At the NIRSAL stakeholders 2022 Engagement in Lafia, the Head of Projects Monitoring, Reporting and Remediation Office, Noel Dilli, announced that NIRSAL had disbursed N500 million as loans to 4,630 farmers in the state since 2017 when it started operating in the state.

He said the loans were meant to boost the farmers’ productivity.

Dilli also stated the goals of the meeting, which included having a direct interaction with the stakeholders in the field from all the AVC segments, highlighting NIRSAL’s accomplishments in the state in the past five years, presenting some of NIRSAL’s services, and showing NIRSAL’s dedication to improving Nigeria’s AVC and its future vision.

He encouraged farmers who needed financial assistance to apply for loans from NIRSAL, promising them the agency’s support.

He said, “NIRSAL Plc’s vision is to transform the economy and to achieve inclusive growth that will benefit the lives of Nigerians.

Also read: CBN N25 million NIRSAL Loan Apply – Portal Closes Next Month

We have been backing businesses of all sizes, small, medium or large, throughout the country, and we hope to do more for the people.

“Since 2017, NIRSAL has given loans to 4,630 farmers in Nasarawa state.

We allocated N500 million for the project, and many farmers from the 13 Local Government Areas of the state benefited from it.

“We urge other farmers facing financial difficulties to apply for our loans. Our efforts are to ensure lots of food and strengthen the Nigerian economy.

“NIRSAL Plc does not lend to individuals but to cooperatives.

So, farmers who are interested will have to form a cooperative before applying for loans from us.”

However, the Assistant Manager of the Agricultural Value Chain, Production and Integration Services, Onerno Obaseki, expressed disappointment over some farmers who failed to repay their loans on time.

She said such behaviour could prevent the agency from lending to other state farmers who needed the funds to improve their farming activities.

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