The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has facilitated more than N290 billion in finance between 2013 and 2025 across primary production, processing, logistics, market development, and exports.
The institution also facilitated the creation of over 520,000 jobs, impacting more than three million lives across rural and urban communities.
The institution, in a statement on Sunday, said the interventions strengthened industrial capacity utilisation, supported farmers to expand production, deepened market access, and preserved value across agricultural value chains through risk-sharing, insurance advocacy, incentive mechanisms, and technical assistance.
According to performance records, NIRSAL facilitated N298.49 billion in credit through its Risk Sharing Facility during the period, issued 949 guarantees, and supported 251 agribusinesses, with a non-performing loan ratio of less than 0.8 per cent. In addition, over 449,000 agricultural value chain actors were trained, more than 159,000 jobs were supported, and about 795,000 lives were directly impacted through programme interventions.
NIRSAL Plc also developed more than 20 agribusiness models and tools, trained over 2,000 financial institution staff and more than 303 value chain actors, and facilitated N33.9 billion through programme management initiatives.
Its insurance advocacy drive led to the introduction of five index insurance products, onboarding of nine insurance firms, issuance of 1.8 million index insurance policies, and over N5.2 billion in insurance payouts, with N4.6 billion in claims paid and N4.2 billion recovered. Through its incentive mechanism, NIRSAL processed $1.8 million in interest drawback payments to 386 obligors.
Closing 2025 with its highest annual finance facilitated to date, NIRSAL announced that total approved credit guarantees for the year surpassed N100 billion in loans and investments in agriculture and agribusiness nationwide.
The feat enabled partner banks and lending institutions to extend credit to value chain activities that would otherwise be considered too risky for on-balance sheet exposure.
The institution said the performance demonstrates steady progress in de-risking agricultural lending, improving access to finance for agribusinesses, strengthening lender confidence in the sector, and deepening financial inclusion across the agriculture-to-market ecosystem.
In recognition of these outcomes, NIRSAL received the MSME Agrifinance Enabler of the Year Award at the 2nd Edition of the MSME Finance & CEO Awards held in Lagos state.
Speaking at the event, NIRSAL’s Managing Director/CEO, Sa’ad Hamidu, said the recognition ‘speaks to the power of structured risk-sharing models, strong partnerships with financial institutions, and the resilience of Nigeria’s agribusiness entrepreneurs’. He was represented by Akinola Baiyewu, NIRSAL’s Regional Head, South, Business Development Group.
Hamidu added that the organisation is ‘not chasing after awards, but is focused on drawing the attention of potential partners across the agrifinance value chain to NIRSAL’s value proposition for safe, profitable, and sustainable investments in Nigeria’s agriculture sector’.
NIRSAL’s partnerships with commercial banks and other lenders supported commodity exports, agro-processing, input supply, primary production, storage, warehousing, and logistics. Through technical assistance programmes, field monitoring, and project mapping protocols, the institution said it continued to unlock opportunities for farmers, processors, aggregators, and market actors.
On its role as a facilitator rather than a lending house, the Managing Director explained that substantial financial capital exists within the financial system to transform agriculture, but inherent value chain risks often discourage lending.
He said the N100 billion milestone recorded in 2025 represents a shift from caution to stronger confidence among lenders, driven by NIRSAL’s credit risk guarantees and risk management frameworks that assure banks of viable portfolio performance.
He noted that Financial institutions are increasingly relying on NIRSAL’s risk-sharing tools to grow agricultural portfolios, optimise capital deployment, and pursue both commercial and development outcomes.
To date, the institution has signed 41 master agreements with counterparties willing to jointly finance agriculture and agribusiness across the country.
NIRSAL also strengthened its role in mobilising alternative finance for agriculture. As a Delivery Partner to the Green Climate Fund (GCF) for climate finance readiness, it is delivering capacity development programmes across Nigeria, with optimism that the country will attract sizable climate finance inflows to support climate-smart agriculture and resilience-building initiatives.
Drawing from lessons learned through national and sub-national smallholder financing schemes, the organisation refined its programme management offerings for state governments, private agribusiness investors, and cooperative-led primary production clusters.
The refined approach includes improved protocols for farmer onboarding, capacity-building, geo-mapping, soil testing, and mechanisation support aimed at boosting productivity and production outcomes.
Looking ahead to 2026, NIRSAL said it will continue to expand its finance facilitation footprint, support climate-smart agriculture, enhance sectoral resilience, and improve the competitiveness of Nigeria’s agribusiness ecosystem.
‘Our journey is far from over’, Hamidu said. ‘In fact, it is only just beginning. We will continue to innovate, deepen partnerships, and scale solutions that reduce risks and unlock finance for Nigeria’s agriculture sector. With the support of our Board of Directors and the dedication of our people, 2026 will see NIRSAL further scale its contribution towards agriculture transformation’.
