The Nigeria Incentive-Based Risk Sharing Agricultural Lending (NIRSAL) of the Central Bank of Nigeria said it has guaranteed 224 projects worth N53 billion for farmers in the country in the last two years.
The Head, NIRSAL Project Implementation Office and Development Finance Department, Mr. Aliyu Hameed, made the disclosure yesterday at a zonal sensitisation workshop on the financing framework for agricultural value chain which held in Sokoto.
He said the huge amount was guaranteed to borrowers in different agricultural segments of the value chain, especially those engaged in poultry farming.
“Most of the guarantee amounting to N53 billion went to the processing segment of the value chain but I can tell you that the poultry segment got most of the money and support from NIRSAL in the last two and half years,” he said.
He added that the aim of the initiative was to boost food security and reduce import bill in the country.
Source: ThisDay Newspaper
