By Emma Ujah, Abuja Bureau Chief
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, has the solution to clashes between herdsmen and farmers.
Managing Director of NIRSAL, Mr. Aliyu Abdulhameed, said this while finalising a N10 billion agricultural financing deal with Union Bank Plc in Abuja.
He said once appropriate ranches are created for the herders to keep their cattle and feed them well enough, clashes will be eliminated.
He said ranching will also guarantee high milk production and cows will grow fatter, which will translate to more meat and more money for owners, as well as greater contribution to the nation’s Gross Domestic Product, GDP.
In his remarks, the Group Managing Director of Union Bank Plc, Mr. Emeka Emuwa, said the decision to invest the N10 billion into agricultural financing was based on the bank’s conviction that there huge opportunities inherent in the nation’s agric-business.
According to him, feeding 180 million Nigerians alone present great business opportunities and that his organisation is prepared to invest, even more in the sector, once the initial investment brings good returns.
He said: “Our focus will be enhancing post-production, processing capacity to curb post-harvest losses and to provide market access to small-holder farmers, which in itself has been a limiting factor.”