From: Samuel Orumade, Abuja
THE Nigeria Incentives-Based Risk Sharing System for Agricultural Lending (NIRSAL) on Thursday renewed its commitment to facilitate credit lending to farmers.
It says it is willing to attend to farmers and other relevant stakeholders ‘in safe ways’ despite the on-going pandemic.
The financial institution in a public statement released on its official twitter handle stated that the decision becomes imperative considering the global effect of the COVID-19 pandemic on Nigeria’s economy which is largely oil dependent.
“In view of the COVID-19 pandemic, and the need to adopt the well-publicised precautions needed to flatten the curve, NIRSAL PLC has taken decisive steps to safeguard its stakeholders while remaining operational,” it stated.
“Considering that one of the greatest victims of this global health crisis is Nigeria’s oil-based economy, the importance of our work in heightened.”
“Therefore, we remain accessible to our clients in safe ways, especially through our digital platforms and limited office engagements.”
NIRSAL was created as an offshoot of development banking in the Central Bank of Nigeria (CBN). It serves as a shock-absorber for commercial banks to encourage more credit facilities for local farmers from the private banks.