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 me

“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.

The United Bank of Africa (UBA) has been saddled with the responsibility of registering  interested applicants for the loan.

What is this product about?

The Product is designed to offer credit facilities to farmers under the Agriculture Loan Scheme initiative of the Federal Government of Nigeria.

Who are the target markets?
Individuals in Paid Employment, Micro, Small farmers, Medium and Large scale farmers, Corporate Organisations, NGOs, Govt and its agencies engaged in Crop production/cultivation, Poultry, Fishery, Animal Husbandry, Plantation Agriculture, Agro processing, farm machinery and hire services..
Product Coverage

*Agro Processing
*Out-Growers Scheme
*Livestock Farming
*Cultivation of Arable crops
*Storage facilities and maintenance
*Tractorisation and Mechanisation Schemes
*Plantation Agriculture, including tree crops replacement scheme

What are the Benefits?

Increased food production and national security
Poverty Reduction
Employment generation and Wealth creation
Empowerment of farmers and rural households through credits and savings
Strengthen the governance structure of co-operatives
Contribute to National Economic growth.
Industrial development .
What are the Requirements?

Must be practicing farmer or agro-allied entrepreneur
Must have been in account relationship with UBA for minimum of 3 months.
Members must be between the ages of 18 and 60years
Must be a member of All Farmers Association of Nigeria(AFAN) and recommended by the same the same association
Viable proposal
Positive CRMS report .
Who can apply?
Individuals in Paid Employment, Micro, Small farmers, Medium and Large scale farmers, NGOs, Govt and its agencies, Corporate Organizations

How are customer’s applications going to be treated?
Visit the nearest UBA Business office on or before March 31st 2016 to get the application form for free and apply.

Goodluck.

http://www.premiumtimesng.com/business/5486-cbn_approves_n75billion_loan_for_agricultural_lending_in_states_.html

When i was preaching agribusiness on this platform some years back that agriculture is going to be the future.
Never did i know that the future will be so fast...
Now the future is here,position yourself to benefit by getting involved...More free money to be thrown around by govt.

How is this free? Isn't this a loan?

Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

It's a good thing that people are now thinking of agriculture.

Tundemmy:
Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

Which location in Abuja sir?

HybridMan:
Its so unforunate that a lot of people will not be aware about this valuable information...Professor Bankole(Dean of Agric UNIBEN) said yearly some of this funds are returned back to FG due to the fact that people don't access it..

I have designed a detailed Business plan on Poultry(lAyers) which can qualify you for the loan..

•Executive Summary
•Marketing Analysis
•Operation and Management Plan
•Financial Analysis
•Risk and Mitigating Techniques
•Implementation strategy


Contact us to get it @ affordable prices

08032298246 (Whatapp only)
(hdsolutions007@gmail.com)

Hybrid Business Solutions

bro how much is it?

Tundemmy:
Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

Tundemmy:
Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

Tundemmy:
Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

Tundemmy:
Are you interested in acquiring large plots of land for your agric business? If yes, there's farmland available for sale at N1M for 1hectare. The land is approved for agricultural purposes by FCT-ARD (50 years lease term with RofO). The land is brought to you by FCT-ARD and ASO Plc. Payment can be made over a period of 1 year.
For further info and to see the documents, mail oluseunoss@yahoo.com

Am interested. Where precisely is d land located?

Kwali area council. Mail me at oluseunoss@yahoo.com for more details

Richman12:


Am interested. Where precisely is d land located?

Kwali Area Council. Send a mail at oluseunoss@yahoo.com so i can send you full details

Jesusbaby6:



Which location in Abuja sir?

For sale: 6 acres of land for agricultural purpose at koguo, along ido-eruwa road ibadan @ 200k per acre. Contact surveyor 08162614400.

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