NIRSAL guarantees N23.1bn agric loans


From Nduka Chiejina (Assistant Editor), Abuja

 

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) says it has facilitated a total of N23.1billion in agribusiness loans under its Credit Risk Guarantee (CRG) cover nationwide.

Recently, it facilitated over 6billion into strategic projects in the pre-upstream and midstream segments of the agricultural value chain in Kaduna State.

Specifically, NIRSAL provided Stanbic IBTC Bank with CRG cover on a credit facility worth N875million to Hulhulde Nigeria Limited – a fertilizer Super Agro Dealer, as well as N3.6billion and N1.72billion facilities for LoryB & DP Ventures Limited and Nalmaco Nigeria Limited respectively – both grain processing companies.

NIRSAL’s 75% CRG cover on Hulhulde’s facility supports the value chain financing logic as it gives access to reliable and affordable fertilizer to the thousands of smallholder farmers served by the Super Agro Dealer.

Similarly, the issuance of 50%…



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