By Joseph Edegbo
Kaduna (Nigeria)– The Central Bank of Nigeria (CBN) has approved the disbursement of about N75billion as loan to farmers in the 36 states and the Federal Capital Territory FCT .
Sources made available to Africa Prime News indicate that the facility is under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL).
The loan guarantee scheme, is a public-private sector initiative set up to transform the country’s agricultural sector.
It was initiated by the apex bank, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development, to guarantee 75 per cent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.
