By Emma Ujah
The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) plans to save N630billion from refurbishing 55,000 broken down tractors scattered across farms and the premises of States’ Agricultural Development Projects, nationwide.
The Managing Director of NIRSAL Mr Aliyu AbdulHameed, disclosed this in Abuja yesterday while sealing a deal with Machine and Equipment Corporation Africa (MECA) and the World Bank on FADAMA III A-F Project towards agricultural mechanization in the country.
He said that about N30billion would be spent to repair the tractors in phases, beginning with 10, 000 units.
According to him, “NIRSAL will continue to support the growth and expansion of the Agricultural Value Chain as its mandate requires. At NIRSAL, we recognize that when it comes to Agriculture, there is an opportunity to positively impact millions of livelihoods. What you have witnessed here today is another example of how we are utilising these opportunities to better the lives of smallholder farmers across the nation.”
Abdulhameed assured farmers under the FADAMA Federated Community Associations (FFCAs) that NIRSAL would continue to support them even beyond the provision of mechanization services.
“NIRSAL was created to facilitate finance to all value chain actors, yourselves included. With the winding down of FADAMA, you can rest assured that NIRSAL will deploy its resources to ensure continuity in the support, development, and growth of your agricultural activities,” he said.
He urged the Central Bank of Nigeria – which wholly owns NIRSAL, to continue its critical interventions in Agribusiness sector, and for the World Bank to keep supporting agricultural programs in Nigeria as they have done with FADAMA III-AF.