The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL has secured a 3.5 billion naira loan commitment to boost maize and soybean production in the 2019 wet season.
The Managing Director, NIRSAL, Aliyu Abdulhameed, disclosed this at the end of a two-day Preliminary Technical Session Round-table Engagement with stakeholders for the Mapping for Markets M2M project in Abuja.
Abdul-hameed stated that the loan would be disbursed to 3,750 farmers in three pilot states under the M2M project.
The M2M project is an initiative of NIRSAL to support maize and soybean farmers with fertilisers and seeds in Benue, Niger and Ekiti states.
According to Abdul-hameed, NIRSAL will be using these three states as its pilot scheme by providing the necessary support to smallholders maize and soybean farmers with quality inputs to increase their yields.
On his part, the President, Seed Entrepreneurs Association of Nigeria SEEDAN Richard Olafare, said that 65 million naira worth of seed to be committed to this project was a good one.