The has launched an enhanced livestock feed programme designed to create a shift from nomadic cattle rearing to a more structured system that would encourage private investment in the livestock value chain.
The livestock feed programme is being financed under the NIRSAL-CBN Anchor Borrowers Programme.
Under the scheme, NIRSAL will not only provide access to finance but also technical support to livestock farmers for guaranteed results.
Other key components of the innovative programme include:
- Training of livestock farmers on modern livestock feeding systems, livestock rearing best practices, vaccination of livestock, disease management and other relevant information that increase the chances of productivity and profitability in the business.
- Providing an institutional framework that ensures that farmers are able to maximize the value of their investment as well as improve income by introducing them to more nutritious and high yield feed.
NIRSAL is an initiative of the Central Bank of Nigeria to de-risk lending to the agricultural sector.
The initiative is designed with the objective of enabling the flow of affordable financing to all players along entire agricultural value chains. It reduces the risks of financing institutions while granting agricultural loans by building the capacities of both banks and value chain actors on good practices in agricultural financing, loans utilization and repayment.
The key objectives that it hopes to achieve using its dynamic and holistic approach to tackling the challenges in the agricultural and financial value chain include:
Did you find this article informative? Kindly like comment and share!