The Government Enterprise and Empowerment Programme has formed a strategic partnership with the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending to enhance risk management and scale support for the FarmerMoni initiative.
GEEP said the collaboration will also strengthen the FarmerMoni ecosystem and support the wider goals of the National Social Investment Programme Agency.
The National Programme Manager of GEEP, Mr Ibrahim Baba, made the disclosure during a courtesy visit to the Managing Director/Chief Executive Officer of NIRSAL, Mr Saad Hamidu, in Abuja.
Baba said the discussions centred on strengthening sustainability and risk-management frameworks for GEEP beneficiaries, while deepening inter-agency collaboration to better support smallholder farmers and enterprise empowerment across the country.
He added that both parties agreed on key priority areas, including credit risk guarantees and co-financing, with NIRSAL’s instruments to be leveraged to de-risk lending to FarmerMoni beneficiaries.
Other priority areas include data sharing and enumeration to harmonise beneficiary databases, improve registration processes, and strengthen digital records; capacity building and technical assistance through joint training programmes to enhance productivity, financial literacy, and creditworthiness; and input supply and market access by facilitating linkages between beneficiaries, input suppliers, off-takers, and market channels.
The parties also agreed on monitoring, evaluation, and digital platforms, with plans to integrate frameworks and tools to strengthen oversight, transparency, and impact measurement.
“There is also policy advocacy and regulatory alignment, driving coordinated engagement with stakeholders to ensure enabling environments for interventions,” he said.
Delivering comprehensive support nationwide
Baba noted that the collaboration could combine NIRSAL’s insurance and risk management solutions with FarmerMoni’s grassroots distribution network to deliver a comprehensive package of credit, inputs, training, and risk mitigation across Nigeria.
Hamidu reaffirmed NIRSAL’s commitment to the partnership, stating,”We are committed to combining risk-sharing products, technical expertise and market linkages to strengthen the FarmerMoni value chain and expand sustainable access to finance for smallholder farmers.”
Both sides agreed to set up a joint technical working group to outline pilot activities, timelines, and an implementation roadmap, leading to the signing of a formal Memorandum of Understanding.
NIRSAL’s role in agricultural transformation
NIRSAL is a non-bank financial institution owned by the Central Bank of Nigeria, established to transform Nigeria’s agricultural sector by reducing risk and making it more attractive for commercial investment and lending.
Last year, NIRSAL said bank lending to Nigeria’s agricultural sector rose to 5.33% of total credit as of May 2025, reversing a multi-year decline and signalling a cautious return of banks to agribusiness.
