Youths are the successor farming generation and therefore the future of food security in Nigeria. The ageing smallholder farmers are less likely to adopt the new technologies needed to sustainably increase agricultural productivity. There is therefore a pressing need to engage the youth in ways that they can see a promising future in Agriculture as well as to influence them to pursue careers in agriculture-based industries.
NIRSAL is working with the African Development Bank (AfDB) to deploy a USD300 Million Enable Youth Programme that will catalyze youth's involvement in agri-business and enterprise development. Under this partnership, NIRSAL will deploy its leverage factor that makes the initial funds revolving and scalable to new sets of green field youth enterprises while mainstreaming the matured youth enterprises into a sustainable and permanent commercial relationship with the finance industry as well as downstream markets. The net effect is to make agriculture/agribusiness an economically viable means of livelihood to the youths.
Under the partnership, NIRSAL will package different levels of guarantees for financing along the following stages along the agricultural value chain. The different levels would include the following:
- Research & Innovation/Application
- Primary Production
- Primary Processing / Aggregation
- Secondary Processing /SME Processing
- Logistics (Transportation & Ware Housing)
- Marketing (branding, Advert and Distribution)
- Wholesale and Retail
- VC Service Provider (Admin, Legal, IT etc.)
Details of how the scheme would be implemented and the terms and conditions involved would be made available as soon as the scheme is fully operational.