Africa Agriculture

The Central Bank of Nigeria (CBN) has introduced a new initiative that could boost private sector lending to the agriculture industry. The Nigerian Incentive-based Risk-sharing System for Agricultural Lending (NIRSAL) was formally unveiled at a conference in Abuja on July 5-6. The purpose of the CBN-organised event was for stakeholders to gather to discuss the new initiative.

With food security becoming a growing concern worldwide, the Nigerian agriculture sector has recently become the focus of multiple investment programmes. The government is taking a proactive approach to boosting domestic production and has designed a plan to help the nation fulfil its agricultural potential.