February 24, 2020

BMO says NIRSAL’s 4m jobs big push for job creation, poverty alleviation




The Buhari Media Organisation (BMO) says the four million jobs of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) will be a big push for jobs creation and poverty alleviation in the country.

The Chairman of BMO, Mr Niyi Akinsiju, said this on Monday in a statement in Abuja.

“We note that apart from the creation of over 400,000 jobs by the Central Bank of Nigeria (CBN), two million more Nigerians have been positively impacted in the country’s agricultural value chains

“These include mechanization, input supply, and primary production and processing.

“We want to place it on record that NIRSAL PLC, a wholly-owned corporation of the CBN has been very proactive in impacting on the lives of Nigerians since the Buhari’s administration came into office, especially with the 500 million dollars grant by the Federal Government.

“We note that NIRSAL’s institutionalization of incentives for agricultural lending across the value chains has further empowered Nigerian farmers, their families and other dependents.

“We, therefore, applaud the President Muhammadu Buhari’s administration for having the wisdom to diversify the economy, thereby reducing the country’s dependence on oil as the only revenue earner,” he said.

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He stated that NIRSAL facilitating over N102 billion in loans from commercial banks to businesses across the various agricultural value chains was quite encouraging.

According to the Akinsuji, the revival of the agricultural sector under Buhari has unleashed a huge potential in the sector and is providing the youths with an opportunity to be gainfully employed.

“Similarly the average Nigerian farmer is now reaping from his enterprise, based on the several incentives the Buhari administration has provided to him.”

Akinsuji, however, expressed belief that with the support of all Nigerians and critical stakeholders in the various sectors of the economy, most of the socio-economic policies would continue to benefit all Nigerians.

He said that the decision of the administration to diversify the economy from its sole dependence on oil created other sources of revenue generation, employment and stimulation of the economy.