In a bid to boost Nigeria’s Cocoa export capacity, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) announced a 50% Credit Risk Guarantee (CRG) to ADT Russet Ltd on its working capital facility worth N1.15 billion.
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This was disclosed on Sunday by Mr Aliyu Abdulhameed, NIRSAL’s Chief Executive Officer, during a tour of ADT Russet, a cocoa exporting company, according to this News Agency of Nigeria.
READ: Sesamum seed, cocoa, cashew nuts top Nigeria’s agricultural exports in Q1 2021
What NIRSAL is saying
“NIRSAL has provided similar support to another cocoa processing and exporting company in the South-West region, this time in Akure, Ondo state.
We are happy to yet again demonstrate our willingness and capability to support agro-allied companies across the country.
Our support will help to grow their businesses, engage small-holder farmers and earn foreign exchange for the Nigerian economy,” Aliyu Abdulhameed said.
READ: The burden of insecurity on food production in Nigeria
He added that the support to ADT Russet’s operations would create a stronger market for cocoa export stakeholders and farmers who supplied their inventory, as NIRSAL will keep monitoring the project efficiently with the aim of boosting ADT Russet’s export volume to 4,000 metric tonnes per annum.
You can also read Nairametrics’ report on how to know if your NIRSAL loan has been approved here.
I need away forward for cocoa farm in boki LGA of cross river whichi know we produce more than 100,000tone In a year
The editor of this newspaper must be a failed journalist and the news media itself. They have paid and threatened you to write against the Eastern part of Nigeria. You are insane and may God punish you for that arrant nonsense.