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NIRSAL AGC Loan Repayment Commences in Nasarawa

Last Updated on February 4, 2021 by Ope Quadri

The Nigeria Farmers Agro Geo-Cooperative (AGC) beneficiaries are to commence loan repayment in Nasarawa State.

NIRSAL made this known in a tweet on Thursday, “The AGC will immediately commence loan repayment and utilise profits to improve their livelihoods, another testament to the success of NIRSAL Plc’s AGC model.”

The tweets also showed the photos of registered AGC in Ga’ate village, Kokona LGA of Nasarawa state, where they carried out threshing, winnowing and bagging of maize as part of post-harvest activities.

READ ALSO: WHY Farmers Should Register For NIRSAL Agro Geo-Cooperatives

It’s revealed that NIRSAL Plc met with the AGC’s leaders to further train them on proper documentation of produce gathered before handover to their pre-agreed offtake.

The programme is powered by the Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL Plc), in 2020 called for enrollment into its Agro Geo-Cooperative model.

AGC was created for the purpose of facilitating sustainable farm/field structuring & governance.

It is to create 16,000 Agro Cooperatives on 4 million hectares of farmland

To enrol some 8 million Nigerian farmers whose responsibility it will be to produce about 12 million metric tonnes of Grain Product Equivalent (GPE) annually over the medium to long term.

ALSO READ: Types of Loans Offered By Nigerian Banks

Since its creation, NIRSAL has been working with the following organisations and individuals,

  1. enterprises,
  2. corporate bodies and
  3. N-Power beneficiaries through the World Bank FADAMA Programme,
  4. USAID MARKETS Programme,
  5. IFAD Value Chain Development Programme,
  6. The World Bank Climate Adaptation
  7. Business Support Programme,
  8. AfDB Agric Programmes,
  9. the DFID’s Propcom Maikarfi Programme,
  10. SASSAKAWA Global 2000 Programme and
  11. other stakeholders that meet requirements to execute the enrollment.

In one of our posts, we highlighted some of the benefits of joining an agro-cooperative society in their community.

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