NIRSAL okays N60b for agric, climate projects

As Nigeria joins the rest of the world to mark the 2017 World Earth Day, the Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), have concluded plans to carry out about N60 billion worth projects across the country in 2017.

It also disclosed that it facilitated a total of N64.4 billion credit risks project in the country between 2012 and 2016, in line with its mandate to provide renewable energy for agriculture, and the adoption of Climate Smart Agriculture (CSA) approaches.

NIRSAL is wholly owned by the Central Bank of Nigeria (CBN), which was incorporated in 2013, as a public private initiative designed to appropriately define price and share agribusiness related credit risks. Its core mandate is to de-risk investments and debt finance along the entire agricultural commodity value chain in Nigeria as well as provide technical assistance to the value chain actors and incentivise financial investments in the sector.

A statement signed by NIRSAL Head, Corporate Communications, Innocent Azebeokhai, said the agency is also initiating the Greening the Cities (GTC) project, as part of its corporate social responsibility.

According to him, the project which is being launched in partnership with the GreenEarth Consults and other stakeholders is part of the 2017 World Earth Day campaign in which 192 countries across the globe are participating.

“The project also underscores NIRSAL’s focus on taking full advantage of global best practices in sustainable and climate friendly agricultural practices in pursuit of its mandate to de-risk the agricultural value chain in Nigeria.

As part of the strategic CSR campaign, NIRSAL and its partners will collaborate with selected Primary schools across the country to effectively transfer knowledge.