A government agency is basically cosigning loans to get banks to finally fund farms. The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, or NIRSAL Plc, says it has backed over two hundred ninety billion naira in financing since 2013, hitting a yearly high of over one hundred billion in 2025 alone. Its CEO, Sa'ad Hamidu, framed this as shifting lender caution into confidence through credit guarantees.
The institution's work supported more than five hundred twenty thousand jobs and impacted over three million people. Their model uses risk-sharing agreements with forty-one financial partners to make loans for production, processing, and exports less scary for banks, resulting in a minuscule default rate below point...