Agriculture : FG disburses $7.4m to rice farmers

The Nigeria Incentive Based Risk-Sharing System for Agricultural Lending has disbursed N2.63 billion ($7.4 million) to more than 20,000 rice farmers for this year planting season.

The agency said this is part of its mandate to facilitate the flow of finance to the agriculture sector and help achieve the objectives of the Economy Recovery Growth Plan of the current administration

The Chief Executive Officer, Aliyu Abdulhameed says the disbursement is part of a N17 billion ($47.6 Million) NIRSAL nationwide support program for rice growers that is being implemented under the CBN Anchor Borrowers’ Program

Abdulhameed explained that NIRSAL is deploying a two-pronged strategy to ensure farmers do not only get access to finance but are also supported to get the best yields so that they can pay back their loans and still make profit.

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