The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a US$500million Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to Redefine, Dimension, Measure, Re-Price and Share agribusiness-related credit risks in Nigeria.
Established in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD) and Nigerian Bankers’ Committee in 2013, NIRSAL’s mandate is to stimulate the flow of affordable finance and investments into the agricultural sector by de-risking the agriculture & agribusiness finance value chain, fixing agricultural value chains, building long-term capacity, and institutionalizing incentives for agricultural lending through its five (5) strategic pillars, namely:
- Risk Sharing
- Insurance
- Technical Assistance
- Incentives
- Rating.
Job Summary
NIRSAL understands that de-risking agriculture and agriculture finance starts with achieving optimization and integration of all segments of the value chain.
Consequently, NIRSAL partners with local and international private, public and developmental agricultural value chain players to provide the required equipment, technology, and human capital to upgrade, develop and integrate agricultural value chains in Nigeria.
Increasing access to finance and financial services by smallholder farmers and agricultural value chain actors is at the core of NIRSAL’s mandate.
NIRSAL, therefore, partners with financial institutions, FinTechs, venture capitalists, angel investors, insurance actors, developmental finance agencies, and other relevant stakeholders to unlock the flow of finance and investments to agriculture and agribusiness through joint development and deployment of financing frameworks and financial products within the ambits of NIRSAL’s monitoring and de-risking frameworks.
What is NIRSAL Farmers Business School (NFBS)?
The NFBS is a collection of lessons on best practices in agriculture and agribusiness for over 15 agricultural commodities.
The NFBS uses Interactive Voice Response (IVR) technology, making it conveniently accessible from all mobile phones.
The NFBS, developed by NIRSAL Plc in partnership with Successory Nigeria Ltd and FBIS Technologies, is in response to the need of Nigerian smallholder farmers and inexperienced farmers for the knowledge and guidance on Good Agricultural Practices (GAP) and business operations required to enhance their productivity and improve their livelihoods.