Below are FAQs ABOUT NIRSAL
- Question: Asides guaranteeing agricultural loans, what else does NIRSAL do?
Answer: NIRSAL does a lot and most of what it does, stems from the its credit guarantee like; coverage with innovative insurance products – derived from the Insurance pillar; as well as project monitoring and control.
- Question: Does NIRSAL Give Loans?
Answer: NIRSAL does not give loans, however, it ensures that projects in Nigeria’s agricultural value chain interested in procuring loans have easy access to it.
- Question: Where can NIRSAL offices be found in Nigeria
Answer: Since its inception in 2013, NIRSAL has extended its branches to all 36 states in Nigeria with the FCT inclusive. Hence, you can easily access our services regardless of your location in Nigeria.
- Question: Do I require collateral to get a loan backed by NIRSAL’s Guarantee?
ANSWER: NIRSAL supports and facilitates giving loans to agriculture through its Credit Risk Guarantee (CRG), an initiative which motivates banks to give more loans to agriculture trusting that accruing risks will be shared by a capable institutional partner.
- Question: How can I access NIRSAL loan or facility as a smallholder farmer?
Answer: Getting loans usually is difficult for Smallholder farmers operating individually however, NIRSAL has made it easy through the Agro Geo-Cooperative model that aggregates hundreds of smallholder farmers, making out of them a single group attractive to the world of finance. Hence, to obtain loans as a small scale farmer, it is important to belong to an Agro Geo-Cooperative.
- Question: Is NIRSAL a custodian for Federal Government money meant for farmers?
Answer: The simple answer is No. NIRSAL’s topmost responsibility is to enhance the availability of finance and investments from banks (private sector) into the agriculture sector to ensure that growth in the agricultural sector is sustained and ultimately contribute towards increasing the country’s GDP. NIRSAL hold funds worth $500 Million capital to support the development of innovative agro-insurance products, share agribusiness-related credit risks, rate and incentivize participants in this agricultural financing “revolution”, and provide technical assistance to value chain actors.
- Question: What are the farm land sizes for the formation of Agro Geo-Cooperatives?
|S/N||GEO COOPERATIVE TYPE||FARM LAND SIZE|
|1.||Plots||0.5 – 1Ha|
|2.||Agro Geo-Cooperative Blocks||10Ha|
|3.||Agro Geo-Cooperative Cells||50 Ha|
|4.||Agro Geo-Cooperatives||250 Ha|
|5.||Micro Agro Geo–Clusters||500 – 2500 Ha|
|6.||Small Agro Geo-Clusters||2500 – 5000 Ha|
|7.||Medium Agro Geo-Clusters||5000 -7000 Ha|
|8.||Large Agro Geo-Clusters||7500 – 10,000Ha|
|9.||Mega Agro Geo-Clusters||20,000Ha + multiples of 10,000Ha|
- Question: Who appoints field governance leaders?
Answer: Farmers under NIRSAL’s facilitation at block, cell, geo-cooperative and cluster levels, vote to appoint the Field Governance leaders of their choice.
- Question: What part do the field governance leaders play in the formation of Agro Geo-Cooperatives?
Answer: They play the parts of team management, social engineering, delivery of step-down training, information delivery, produce aggregation oversight, etc.
- Question: What are NIRSAL’s fields and governance levels?
Answer: At the Geo Cluster Level we have the; President, Vice President/Secretary and the Finance Director. At the Geo Cooperative Level there is also the President, Vice President /Secretary and Finance Director likewise the Cell Level. At the Block Level we have the president.