The Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), has signed a Memorandum of Understanding with the Bank of Industry (BOI).
This is to enable the extension of BOI’s credit facility to small scale farmers, agro-processors, and agro-input suppliers.
According to the spokesperson, Mr Bello Abdullahi Abba, the partnership is expected to boost import substitution, stimulate the economy, and realize the key objective of government’s agricultural promotion policy.
The MoU is also expected to identify, and finance impactful agricultural projects within all the segments, of the value chain.
In the meantime, NIRSAL says it will be announcing a collaboration with the Nexim Bank, to unlock sufficient flow of finance to agricultural value chain players, for export markets.