The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) says it has facilitated the flow of N77.7 billion from commercial banks into the Agric-business sector of the country.
Mr. Aliyu Abdulhameed, the Managing Director of NIRSAL, disclosed this at his investiture and award ceremony by the Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN) in Abuja.
Abdulhameed said the money had assisted and supported smallholder farmers, especially to boost production and earn a better livelihood.
The managing director noted that no fewer than 700,000 farmers had also been trained on best agronomic practices and financial education.
According to him, NIRSAL under his stewardship has directly facilitated the distribution of high-quality agricultural inputs to more than 500,000 smallholder farmers.
Abdulhameed said the organisation had developed a product known as the Secured Agricultural Commodity Route (SACR), a transportation system designed to facilitate the easy and timely movement of agricultural produce from farms to market.
“With my conferment as a fellow of the institute, I assure you that I will continue to maintain a reputable and high standard expected of any profession in Nigeria.
“NIRSAL is dedicated to abiding by good procurement and supply chain management principles to achieve our goals.
“NIRSAL with me at the helm has facilitated the flow of N77.7 billion from commercial banks balance sheet into agri-business,’’ he said.
The managing director assured that the organisation would continue to work toward transforming the agri-business and the agricultural space of the country, within its mandate.