CBN approves N75billion loan for agricultural lending in states, Abuja

The Central Bank of Nigeria (CBN) has approved the disbursement of about N75billion as loan to farmers in the 36 states and the Federal Capital Territory (FCT) under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL).

The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It was initiated by the apex bank, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development, to guarantee 75 per cent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.

The Head of NIRSAL Project Implementation Office under the Development Finance Department of the CBN, Jude Uzonwanne, who spoke on the role of NIRSAL in Abuja, told the Minister of State for the Federal Capital Territory, Oloye Akinjide, that the guarantee would be issued to farmers through commercial banks and other financial institutions.

“NIRSAL would mobilize financing for Nigerian agribusiness by using credit guarantees to address the risk of default,” Mr. Uzonwanne said.

“NIRSAL is a flexible financing tool designed to change the behaviour of financial institutions.

“It covers all crops and livestock activities in Nigeria, while driving improved investment outcomes and job creation. It is also building on a legacy of previous CBN interventions in agriculture that has helped create thousands of jobs.”

Mr. Uzonwanne said the programme was designed to create access to finance to farmers by integrating end-to-end agriculture value chains, such as input producers, farmers, agro dealers, agro processors and industrial manufacturers with agricultural financing value chains – loan product development, credit distribution, loan origination, managing and pricing for risk, and loan disbursement.

“The integration is driven by NIRSAL’s 5 pillars, particularly the Risk Sharing Pillar and the Technical Assistance pillars, such as Risk sharing Facility, allocated ?45 billion, Insurance Facility (?4.5 billion), Technical assistance facility (?9 billion), Agricultural bank rating scheme (?1.5 billion), and Bank incentive mechanism (?15 billion).

“NIRSAL will share risks with banks ranging from 30% to 75% of loss depending on the segment. We are prepared to offer following terms to farmers in the States and FCT Abuja: 75% guarantees on all input, working capital and limited living cost loans to plant the crop, and loan duration should be about 24 – 28 months,” he said.

The Minister of State for FCT, who was represented by the Director of Treasury in the FCT Administration, Ibrahim Bomai, said that NIRSAL is cardinal to the success of the Federal Government’s Agricultural Transformational Agenda (ATA) as it was established to address the grey areas inhibiting agricultural growth in the country.

“NIRSAL seeks to address all the technical, administrative and financial needs of the farmers along the selected agricultural value chain commodities in which the country has comparative advantage,” said the minister said Akinjide.

He said the six Area Councils of the FCT have already been directed to identify and key into the value chain commodities to be promoted in their respective area of jurisdiction, adding that the Authority has commenced the implementation of the Growth Enhancement Scheme of Federal Ministry of Agriculture & Rural Development in order to empower the farmers in the territory.


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:"Warning to Men, These 3 Foods is Slowly Killing Your Erection". Click Here to Know Them


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • Ezzatollah Kianersi A.

    One of our main businesses is to open Bank Guarantees and Standby Letter of Credit as well as other Financial and Banking Instruments. We issue our Bank Guarantees and Standby Letter of Credit for Lease & Sale while on occasions as requested by the client, we can open Documentary / Deferred / Red Clause Letters of Credit and Guarantees (Bank, Bid or Performance). Should you have an interest in the Lease and Sale of these, kindly inform and we will be glad to share with you our PROCEDURAL TERMS in regards to setting things in motion for an IMPENDING TRANSACTION. Upon the acceptance of your party to work with the Lessor’s Terms, we would have Legal Contract in place for the transaction to be set up between the Applicant and the Beneficiary and the delivery of the Bank Instrument will be in accordance with the Verbiage (Text) chosen by the Beneficiary’s Bank.

    Name; Ezzatollah Kianersi A.

    E-mail; bgbroker.kianersi@gmail.com

    skype: bgsblc.kianersi

  • MR GODWIN EMEFIELE

    ANNOUNCEMENT TO THE GENERAL REPUBLIC OF NIGERIANS,
    THE FEDERAL GOVERNMENT/INTERNATIONAL FINANCE COPORATION IS GIVING OUT EMPOWERMENT LOAN TO FULL TIME BUSINESS MEN AND FARMERS WITH A LITTLE INTEREST AND PERCENTAGE IN CONJUNCTION wITH CBN…… GOD BLESS NIGERIA, if you are interested,Contact Mr.Femi the sales manger at FINANCE COPORATION CBN, concerning the ongoing agricultural empowerment loan.on 07037644145.GOd bless nigeria

  • Emir Sanusi Lamido

    The Central Bank of Nigeria (CBN) has approved the
    disbursement of about N75billion as loan to farmers in
    the 36 states and the Federal Capital Territory (FCT)
    under the Nigerian Incentive-Based Risk Sharing in
    Agricultural Lending (NIRSAL). NOTE LOANS ARE FROM THE
    MINIMUM OF HUNDRED THOUSAND NAIRA (100,00) AND MAXIMUM
    OF TWENTY MILLION NAIRA (20,000000.00) if interested,
    Please Notify us by sending inbox message using the
    statement (I am interested)or send a message to them
    via email using this (Ref: 3254400- Your Name- Your
    State- Your Phone Number- Your Business) To:
    fgcbnloanaffiliatedoffice@gmail.com

    • Sabo Manzo

      Sabo. Manzo. Kaduna state, 08069448936. Oil palm production and processing/Moringa production

  • mikeosas

    Привет Каждый Один из них, я г-н Майкл Из России, я быстро хочу использовать эту среду, чтобы стричь свидетельство о том, как Бог направил меня к Legit и реального кредита кредитор, который превратили мою жизнь от травы к благодати, от бедности к богатым женщина, которая теперь может похвастаться здоровой и богатой жизни без стресса и финансовых трудностей. После стольких месяцев пытается получить кредит в Интернете и был мошенническим сумму $ 6200 я стал настолько отчаянным в получении кредита от легального кредита кредитор онлайн, который не добавит мои боли, то я решил связаться с другом мина, который недавно получил кредит в Интернете, мы обсуждали этот вопрос и к нашему заключению, она рассказала мне о человеке по имени г-н Дэвид Томпсон, который является генеральным директором компании Johnson leeh займа компании с ограниченной ответственностью Так я подал заявку на сумму кредита (720,000.00USD) с низким процентная ставка 4%, так что кредит был легко утвержден без стресса и все препараты, где сделаны о передаче кредита и менее чем за два (2) дней кредит наносился в мой банк, поэтому я хочу посоветовать любой из нуждающихся в кредит быстро связаться с ним через: (johnsonleehloaninvestment@gmail.com) он не знает, это делаю я молюсь, чтобы Бог благословил его за хорошую вещь, которую он сделал в моей жизни

  • Ajakuta brotherhood

    welcome to ajakuta brothershhod…the brotherhood offers all initiated members wealth, power and protection… contact @ ajakutabrothershood@gmail.com or call +2347054880730

  • Mercedes Krietsch

    Apply for a fast and stress
    free loan today. This is a new era, your search for an online loan from
    a reputable loan firm has come to an end. At M&T FINANCIAL GROUPS
    INC we offer a wide range of loan program such
    as;

    Personal loans

    Commercial loans

    Small business loan

    Student loans with a special percentage offer

    Payday loans

    Loans for large project ( such as construction..)

    House loan e.t.c.

    If you have been turned
    down by banks over a loan to start up your business or refinance your
    projects then M&T FINANCIAL GROUPS INC is your next stop because We
    personalize loan solutions to meet your unique needs.
    But one thing is always the same for every of our customer: we strive
    to make borrowing easy, convenient, and affordable. You can contact

    megatrustfinancialgroupinc@gmail.com for more information.

    CONTACT EMAIL:
    megatrustfinancialgroupinc@gmail.com

  • Ministry of trade and invest

    ANNOUNCEMENT TO THE GENERAL REPUBLIC OF NIGERIANS,
    THE FEDERAL GOVERNMENT/INTERNATIONAL FINANCE COPORATION IS GIVING OUT EMPOWERMENT LOAN TO FULL TIME BUSINESS MEN AND FARMERS WITH A LITTLE INTEREST AND PERCENTAGE IN CONJUNCTION wITH CBN…… GOD BLESS NIGERIA, if you are interested,Contact Mr.Femi the sales manger at FINANCE COPORATION CBN, concerning the ongoing agricultural empowerment loan.on 08135345643.GOd bless nigeria

    • DAVID ISRAEL OHIEMI

      I am so eager to have this loan to enable me exhibit my proficient business plan that have remain idle on paper as a result of lack of fund to execute it.

  • pastorgodtime

    HELLO,
    WE ARE AN ASSOCIATION OF PRIVATE INVESTORS,PROPOSAL FROM THE WORLD OF PRIVATE LOAN IN THE SHORT AND LONG TERMS RANGING FROM 5000 TO 5,000,000 (€ or $) THE MAXIMUM PERIOD OF REPAYMENT IS 18 YEAR OF AGE.THE ANNUAL INTEREST RATE IS 2%.THE CREDIT IS GRANTED TO EVERY PERSON WHO WINS A FIXED MONTHLY INCOME.FOR MORE INFORMATION ABOUT THE LOAN PROPOSAL, PLEASE KINDLY GET BACK TO US AS SOON AS POSSIBL EMAIL TO CONTACT US >>>>(pastorgodtimeloanfirm6@gmail.com).