NIRSAL Aim At 360,000 Grantee In New Contract Of Agricultural Expansion

Must Read

PZ Cussons commences entries for Cussons Baby Moments’ 6th season

PZ Cussons has announced the commencement of entries of the 6th season of its eponymous baby competition in Nigeria tagged...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Ankara Styles For Slim Ladies: Top 5 Looks You Must Try! (Pictures)

Today’s fashion of Nigeria shows off plenty of Ankara styles for slim ladies, that will help them to create a...
- Advertisement -
- Advertisement -

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has approved a Memorandum of Agreement and Action (MoA) with the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) – a $200 million World Bank-financed Project, for the expansion, financing, and assistance of de-risked and optimised agribusiness projects.

In order with the project growth goal of APPEALS, NIRSAL would layer its Tools, Techniques, Methodologies and Strategic Partnerships (TTMPs) according to its Mapping to Markets (M2M) plan on the program.

The purpose of the partnership is to improve agricultural productivity of small and medium scale farmers and development of value addition along the cassava, cashew, rice, poultry, aquaculture, cocoa, wheat, tomato, maize, ginger and dairy value chains in a sustainable manner.

Speaking at the signing ceremony, Managing Director/Chief Executive, NIRSAL, Mr. Aliyu Abdulhameed assured APPEALS that, in NIRSAL, they have found a trustworthy, reliable, and capable partner that shares the project’s development objective of enhancing the agricultural productivity of small and medium scale farmers and improving value addition along priority value chains in participating States.

He said NIRSAL will, “deploy its technologies towards the formation of Agro-Geo-Cooperatives for selected commodity value chains through geospatial mapping, soil suitability tests, BVN enrolment for farmers in addition to the creation of Virtual Asset Titles (VAsT), establishment of field governance structures, and training of farmers on good agronomic practices, team dynamics and social engineering.”

Read:  Palm Oil Production in the Country gets a Boost

NIRSAL would also link producers to relevant consumer, industrial and export markets through value chain roundtables, business deal facilitation meetings, and legally binding trade documentation.

He stated the agency would work with the state teams to structure agribusiness projects patterned after agreed sustainable models for APPEALS’ financing while deploying NIRSAL’s partnerships and models for technology demonstration and adoption.

Read:  Thailand’s Rice Export To Nigeria Drops by 91%

Abdulhameed also noted that to protect primary producers under the project from losses due to pest, diseases, adverse weather conditions and general drops in expected yields, NIRSAL would deploy its Area Yield Index Insurance product.

According to him, to ensure business sustainability, NIRSAL would extend its technical advice to the APPEALS project with a view to instilling business discipline, adoption of a mandatory savings culture and reinvestment of profits for sustainability and expansion in the beneficiaries.

According to a statement by the Head, Corporate Communications, NIRSAL, Anne Ihugba, the project, which is to be deployed in Cross River, Enugu, Lagos, Kogi, Kaduna, and the Kano States, target 60,000 beneficiaries, and 360,000 farm household members as indirect beneficiaries.

Read:  NNPC Declares Trading Surplus Of N6.33 Billion In May

It was anticipated that 35 per cent of direct beneficiaries (or 21,000 individuals) would be women- as the project has a dedicated sub-component to benefit women and youth that would allow them to develop agri-businesses that are expected to create jobs and improve their livelihoods.

However, the World Bank Task Team Leader of the APPEALS Project, Dr Sheu Salau, commended NIRSAL for supporting the project with its technological know-how, expertise, and depth of knowledge in agribusiness.
Also, the National Project Coordinator of the APPEALS project and Director of Agriculture, Federal Ministry of Agriculture and Rural Development (FMARD), Dr Amin Babandi, expressed excitement at what he described as a “turning point” in the project’s life cycle.

He said: “Through this agreement, I am confident that APPEALS would achieve its set targets of impacting at least 60,000 and 360,000 direct and indirect beneficiaries respectively.” This, he noted, would bring about the livelihood improvement that APPEALS was utilised.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Samsung Presents Galaxy A10s, A20s and A30s For New Smartphone Generation

Samsung yesterday unveiled new members of the Galaxy A Series smartphones – the Galaxy A10s, A20s and A30s. These...

CBN Issues Part Of N499 Billion Credit Penalty To Banks

The Central Bank of Nigeria (CBN) had Issued to some banks part of the N499,175,535,097 subtracted from 12 banks as additional cash savings after...

Choosing the Right Wear Protection for Ground Engaging Tools Through Customized Solutions

WESTBURY, NY - EQS NEWSWIRE - October 18, 2019 - Oerlikon Metco customizes hardfacing alloys for specific applications and processes to protect GETs for mining and construction applications.Ground Engaging...

Yankee Candle Celebrates 50 Years of Candle-Making and A ‘Scent-Evoking’ 10 Years in Singapore

SINGAPORE - Media OutReach - 18 October 2019 - Yankee Candle®, America's best-loved candle, celebrates its 50th anniversary and ten years in Singapore this year. Founded by Mike Kittredge in 1969, Yankee...

More Articles Like This