CBN Disburses N6bn Agric Loans to Farmers

The Central Bank of Nigeria (CBN) has said it disbursed over N6 billion loans to farmers under its credit guarantees as at December last year. A report from the Bankers’ Committee at the weekend,  also anticipated that with the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and collaboration between banks and counterparties, the loans under guarantee would have risen to over N20 billion by end of the first quarter of this year.

The increase in agric sector credit was linked to the N200 billion agriculture credit scheme and the N600 billion NIRSAL interventions.

The NIRSAL guarantees up to 75 per cent of bank loans to the sector. The NIRSAL initiative, which was conceived by the CBN, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development (FMARD), seeks to create incentives and catalyse processes to encourage the growth of formal credit, direct and indirect, for the agriculture value chain, as a mechanism for driving wealth creation among value chain participants.

According to the central bank, NIRSAL is also expected to be a catalyst for innovative risk management strategies, long-term financing for agribusiness and significant job creation by new entrepreneurs.

“The mandate of NIRSAL is to act as the custodian of all credit guarantee schemes, interest draw back schemes, and commercialisation initiatives related to an integrated value chain approach to agriculture and agribusiness in Nigeria,'' the CBN said. Under NIRSAL, there are five pillars to be addressed by an estimated $500 million that will be invested by the CBN,” the programme document explained.

There is also a risk-sharing facility of $300 million, planned to address banks’ perception of high-risks in the sector by sharing losses on agricultural loans. There is equally an insurance facility of $30 million intended to expand insurance products for agricultural lending from the current coverage to new products, such as weather index insurance, new variants of pest and disease insurance. Besides, there is also a technical assistance facility amounting to $60 million, meant to equip banks to lend sustainably to agriculture, producers to borrow and use loans more effectively and increase output of better quality agricultural products, among others.

“The current improvement in the sector’s  was linked to access to credit through the new policy focused on increasing private sector participation, emphasis on the entire agriculture value chain, and using agriculture to boost employment, wealth creation and food security,” it added.

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Nigeria: Farmers/Herdsmen Situations - 3,000 Lives Missing, Still Number Result in Sight

FOURTEEN decades after the nasty kill of Zaki Iyordye Akaahena, a famous paramount leader in Guma Local Government Area of Benue State along side his two sons who were theoretically beheaded by rampaging Fulani herdsmen in 1989, around 3,000 lives have been lost to the unending sour fight.

Actually, the partnership between many Benue farmers and herdsmen has been shrouded in suspicion and deep rooted abhorrence for every single other. Probably, this might take into account the consistent bloodbaths between the 2 in several communities and villages about Agatu, Guma, Gwer West, Makurdi and Gwer local government areas of the state.

There's number gainsaying that the situation has, like before, centered on dispute around grazing avenues and allegations and counter-accusations by the feuding parties that the other had trespassed beyond bounds. That only implies that since the Tiv man places so much premium on his facilities, likewise the herdsman who can kill his fellow man for tampering with his cattle, any effort by the pair to cohabit might generally lead to bloodbath.

That certainly can be responsible for the consistent issues between Tiv farmers and Fulani herdsmen across the Benue pit wherever lots of farming actions take position, but wherever herdsmen have also found ideal for grazing.

Actually, within the last few 14 decades hardly might any month go by without described cases of situations involving the farmers and herdsmen, ultimately causing deaths and destruction of property.

Actually, between last Friday and Saturday, close to 60 persons were killed, while scores were hurt and others still lacking in one of many bloodiest situation between Tiv farmers of Guma and Fulani herdsmen.

The most recent situation has established a massive refugee condition in Guma with well over 7,000 displaced persons, mostly girls and kids, now camped in Gbajimba, the local government headquarters; the fight still raging in the distant villages.

Speaking on the new situation, chairman of Guma local government council, Mr. Joe Us Adii, lamented ergo: "Lives are being lost on a typical foundation in the hinterlands whilst the recurring situation can be taking their cost on the finances of the council. Like I told you, the problem is poor because we already have a significant refugee condition inside our fingers right now considering that around 7,000 persons have been displaced by this situation; we've been able to camp them at Gbajimba.

"Bulk of these displaced persons are girls, kids and seniors; but luckily, as I talk to you, soldiers have moved directly into Gbajimba, the local government headquarters, and happen to be mobilizing to move to the situation parts in order to always check more eliminating ".

Also speaking, former Benue State Mind of Service, Mike Iyordye, who lost his father to the situation 14 years ago and whose house was burned down in last week's situation, pleaded with the authorities to take steps to test the situation " before it snowballs into anything else."

Unfortunately, despite the recurring dislike that remains to greet these unending situations and the resultant massacres, there seems to be number end in sight to the wanton killings and destruction of house between these feuding parties.

Probably government can offer a considered to the panacea set forward by the Paramount Ruler of Nagi Empire, HRH, Daniel Abomste who recently implored the Federal Government to urgently produce grazing avenues around the world for herdsmen in order to base the consistent situations taking place about Benue State.