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Agro Financing

Agro Financing

NIGERIA INCENTIVE-BASED RISK SHARING SYSTEM FOR AGRICULTURAL LENDING

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) is an initiative of the Central Bank of Nigeria (CBN), the Bankers Committee (BC) and the Federal Ministry of Agriculture & Rural Development (FMA &RD). It provides guarantee in form of Credit Risk Guarantee (CRG) as a comfort for the Banks to lend and also […]Continue Reading
Agro Financing

HOW DIGITAL TECHNOLOGIES IS TRANSFORMING AGRICULTURE?

Throughout its very long history, agriculture has periodically been shaken up by various technological revolutions – among them, the introduction of plant hybridization, genetic engineering, mechanization and the use of agro-chemicals. The latest revolution, the advent of digital technologies, is no different. Although it may not be obvious at first glance, agriculture is Continue Reading
Agro Financing

FARMERS TO RECEIVE ZERO-INTEREST LOANS, FREE INPUTS IN 2020 WET SEASON —FG

The Federal Government has revealed that it would support farmers with interest-free loans and agricultural inputs as a way to cushion the impact of the COVID-19 pandemic as well as the flooding in some parts of the country. Minister of Agriculture and Rural Development, Alhaji Sabo Nanono made this known while receiving the 2020 Wet […]Continue Reading
Agro Financing

KANO AGRO PROJECT INVESTS N88 MILLION ON FODDER PRODUCTION

Kano State Agro Pastoral Development Project (KSADP) has awarded a contract for the production of fodder seeds worth N88 million, including Gambia grass, among other seeds native to tropical Africa. The livestock facility will be established on a 20-hectare seed multiplication plot at Dudduru Grazing Reserve in Ajingi Local Government Area of the state. The […]Continue Reading
Agro Financing

EKITI STATE GOVT. CALLS FOR MORE CBN SUPPORT FOR AGRIC DEVELOPMENT

Ekiti State Government has appealed to CBN to extend its support to the development of tree crops not captured under the anchor borrowers programmes and Commercial Agriculture Credit Guarantee Scheme Fund (CACGS-Fund). Dr Olabode Adetoyi, the Commissioner for Agriculture and Food Security, made the appeal on Tuesday when the management staff of the Ado-Ekiti branch […]Continue Reading
Agro Financing

FG TO INJECT OVER N600BN INTO AGRICULTURE FOR FOOD SECURITY — NANONO

The Federal Government is set to inject over N600 billion as stimulus-response into the agriculture sector. The Minister of Agriculture and Rural Development, Sabo Nanono, made this known in a statement signed by the Director of Information of the ministry, Mr Theodore Ogaziechi on Sunday in Abuja. The minister according to the statement, made this […]Continue Reading
Agro Financing

19,943 FARMERS BENEFIT AS NIRSAL DEPLOYS AGRO MODEL TO SUPPORT N’EAST ECONOMY

Some 19,943 farmers in Nigeria’s North East, cultivating rice, maize and soybean on 29,919 hectares of farmland in Borno, Adamawa, Taraba and Gombe States have benefitted from various incentives and inputs from the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) to aid their 2020 wet season farming. Through the CBN’s Anchor Borrower Programme, Continue Reading
Agro Financing

AGRO-ECONOMIC, CBN POLICIES DRIVING NIGERIA’S ECONOMIC RESILIENCE

Some agro-industrial stakeholders have attributed the resilience of Nigeria’s economy, which is recently rated as the largest in Africa, to a few policies implemented in the agro-economic sectors despite the general uncoordinated economic policies and activities of the Muhammadu Buhari-led administration. Notwithstanding extremely poor electricity supply, inefficient Continue Reading