Between 2012 and 2015, while operating as a Project Implementation Office within the Development Finance Department of the CBN, NIRSAL was able to achieve the following:
Since the appointment of its Executive Management Team by the CBN in December 2015, NIRSAL has in line with its mandate to de-risk the agric value chain carried out the following impactful projects.
Under this scheme NIRSAL facilitated the purchase of 1,000 tractors worth billions of naira for lease to smallholder and large scale farmers at affordable rates.
NIRSAL was able to do this by defining an end-to-end tractor financing model that was addressed the risk concerns of banks and attractive to tractor manufacturing companies.
The scheme has recorded success with zero defaults on payment and anincrease in mechanized farming.
Farm to Market Scheme
The NIRSAL Farm to Market Scheme is designed to fix the challenges like high cost, loss of produce in transit, death etc agric producers face in moving their produce from their farms to markets. The focus is on livestock, processed meat, grains, milk and other perishables.
Under this scheme NIRSAL is facilitating bank financing targeted at fixing relevant aspects of the transport logistic chain like trucking of produce from farm gate to aggregation centers, storage, cold chain, long haul transport via rail, last mile transport to markets.
The Livestock Transport Component of the scheme commenced in August with the historic movement of 500 cattle by rail from Gusau to Lagos. The second train conveyed another batch of 500 cattle from Nguru to Lagos.
In the next phase, NIRSAL will facilitate finance for the establishment of state of the art abattoirs, refrigerated wagons for the transport of processed meat from the north to the south.