Nigeria Incentive Based Risk Sharing System for Agriculture Lending ,NIRSAL, said to enhance Agro business in Nigeria, Commercial Banks must give loans to farmers for commercial production.
This charge came during a sensitisation campaign for operators in the Agric Value Chain system held in Osogbo, the Osun State capital.
The Head, Project Monitoring, Reporting and Remedian Office of NIRSAL in Osogbo, Yemi Akande said it would be difficult for Nigeria to achieve food sufficiency, stimulate an Agro allied industrial economy, guarantee Agro based foreign exchange and produce millionaire farmers if banks refused to give facility to operators in Agric value chain.
Akande noted that the major fear expressed by commercial Banks in giving loans to farmers was the risk involved in Agro financing as change in yield and other challenges could impede the capacity of farmers to pay back loans, thereby creating problems for the lenders.
