NIRSAL’s 4m jobs boost for poverty alleviation – BMO
The Buhari Media Organisation (BMO) has commended the four million job creation initiative of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) through its N102 billion credit facility.
The BMO said NIRSAL’s efforts at securing the loans from commercial banks to businesses across the various agricultural value chain is encouraging and will boost the poverty alleviation programmes of the Buhari administration.
It said that with this, there is no doubt that the Buhari administration’s policy of removing 100 million Nigerians from poverty has continued to yield results.
BMO in a statement signed by its Chairman, Niyi Akinsiju and Secretary, Cassidy Madueke respectively noted that the decision of the administration to diversify the economy from its sole dependence on oil has created other sources of revenue generation, creation of employment and stimulation of the economy.
“We note that apart from the creation of over 400,000 jobs by the CBN agency, two million more Nigerians have been positively impacted in the country’s agricultural value chain, including mechanisation, input supply, and primary production and processing.
“We want to place on record that NIRSAL, a wholly-owned corporation of the Central Bank of Nigeria has been very proactive in impacting on the lives of Nigerians since the Buhari administration came into office, especially with the $500 million grant by the federal government.
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“We note that NIRSAL’s institutionalisation of incentives for agricultural lending across the value chains has further empowered Nigerian farmers, their families and other dependants.
“We therefore, applaud the Buhari administration for having the wisdom to diversify the economy, thereby reducing the country’s dependence on oil as the only revenue earner,” the body stated.
According to the group, the revival of the agricultural sector under Buhari has unleashed the huge potentials in the sector and is providing youths with an opportunity to be gainfully employed.
