NIGERIA INCENTIVE-BASED RISK SHARING SYSTEM FOR AGRICULTURAL LENDING NIRSAL, PLC
CALL FOR ENROLLMENT THE NIRSAL PLC AGRO GEO-COOPERATIVE FORMATION PROCESS
TO FACILITATE ACCESS TO FINANCE. PRIMARY PRODUCTION/FARMING STRUCTURING & GOVERNANCE, LOAN REPAYMENT AND SUPPLY CHAIN SECURITY FOR FOOD INDUSTRIAL RAW MATERIALS AND FOR EXPORT
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending NIRSAL, PLC, a non-bank financial institution wholly-owned and incorporated by the Central Bank of Nigeria (CBN) to De-risk Agriculture and Facilitate Agribusiness, is calling on all smallholder farmers, farmer leaders and aggregators to key into its Agro One Cooperative model created for the purpose of sustainable farm/field structuring and governance, to enable sustainable access to finance.
Anticipating the new challenges and opportunities that will emerge for Nigeria agricultural economy in the COVID-19 and Post COVID-19 era, NIRSAL PLC has embarked on a project of creating 16,000 Agro Cooperatives on 4 million hectares of farmland and enrolling about 8 million farmers across Nigeria expected to produce about 12 million metric tonnes of Grain Product Equivalent (GPE) annually over the medium to the long term time horizons. NIRSAL expects that under this arrangement, farmers will be enabled to have access to structured finance, quality inputs, extension, monitoring, weather information, aggregation services and access to markets.
The NIRSAL Agro Geo-Cooperative model recognizes that it is the land that makes the farmer; hence, No land No farmer! Accordingly, the model groups farmers based on the contiguity of their farmlands, with each farmer retaining what is originally theirs and becoming partakers in large structured farming projects. The bigger and more contiguous an Agricultural Cooperatives is, the faster and easier for it to have access to structured finance, quality inputs and structured markets through NIRSAL’s facilitation.
Pursuant to achieving the above 4 million hectares objective, the following farmland aggregation structures are being created across the country
i. AgroGeocoop Cell – 10 hectares
ii. AgroGeocoop Block – 50 hectares
iii. AgroGeocoop Unit – 250 hectares
iv. Emerging Micro AgroGeoCluster – 250 – 500 hectares
v. Micro AgroGeoCluster – 501 – 2500 hectares
vi. Small AgroGeoCluster – 2501 – 5000 hectares
vii. Medium AgroGeoCluster – 5001 – 7500 hectares
viii. Large AgroGeoCluster – 7501 – 10,000 hectares
ix. Mega AgroGeoCluster – 10,001 – 20,000 hectares
x. Super Mega AgroGeoCluster – 20,001 hectares and above
CALL TO ACTION
NIRSAL PLC has trained and primed its Project Monitoring, Reporting and Remediation Officers (PMROs) in the 36 States of the Federation and the FCT to assist farmers, farmer leaders, aggregators and other interested participants to meet the following pre-qualification requirements:
I. Know Your Farm (KYF) Geographic Coordinates and Size
II. Know Your farmland Neighbour (KYN)
III. Know Your Customer KYC
IV. Elect Agro Duo-Cooperative Leaders (President, Vice President/Secretary, and Director of Finance
V. Download/Collect online and offline and complete the NIRSAL Agro-GeoCooperative Enrollment Forms (AT NO COST)
VI. Submit completed offline forms to NIRSAL PLC offices across the country (PMRO officers located in CBN branches near you) for further processing.
Online enrollment on www.nirsal.com is highly recommended.
In line with this, Community leaders, Individuals, Enterprises, Corporate Bodies, NPOWER beneficiaries, active and retired leaders and farmers in; The ADP programme, World Bank, FADAMA Programme, USAID MARKETS Programme, IFAD Value Chain Development Programme, The World Bank Climate Adaptation at Business Support Programme, AfDB Agric programmes, the DFID’s Propcom Malkarfi Programme, the SASSAKAWA Global 2000 Program and others that meet NIRSAL PLC’s eligibility requirement and who are domiciled in or have access to their communities and farmers, are encouraged to take advantage of this opportunity as a means of employment and a source of income generation through supporting the productive activities at their self-organized Agro Geo- Cooperatives.
Visit https://nirsal.com/agrogeocoop/ for registration