The 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.
During a two-day capacity development program for Kwara State cassava farmers and extension agents in Ilorin, the training team lead, Adaku Obikwere, stated that the training focused on project structuring, access to finance, and sustainability within the cassava value chain in Kwara.
Obikwere highlighted 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,” she said.
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 programs are being conducted simultaneously across the South-East, South-West, and North-West regions,” Obikwere added.
Special Adviser to the Kwara State Governor on Farmers’ Intervention, Hon. Abdullahi Sulaiman, commended the efforts of the current administration. He noted that the capacity development program is expected to significantly impact the agricultural sector, fostering sustainability and economic growth in the state.
“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 said.
He 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.
