The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a US$500million Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to Redefine, Dimension, Measure, Re-Price and Share agribusiness-related credit risks in Nigeria.

Established in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD) and Nigerian Bankers’ Committee in 2013, NIRSAL’s mandate is to stimulate the flow of affordable finance and investments into the agricultural sector by de-risking the agriculture & agribusiness finance value chain, fixing agricultural value chains, building long-term capacity, and institutionalizing incentives for agricultural lending through its five (5) strategic pillars, namely: Risk Sharing, Insurance, Technical Assistance, Incentives and Rating.

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NIRSAL’s Five Pillars


Risk Sharing


Share credit risks with providers of Finance and Investments (up to 75% loss incurred)




Develop innovative Insurance products to beneficiaries


Technical Assistance


Build capacity of financial institutions and agricultural value chain players; Fixing the broken AVC




Rate lenders and Value Chain actors according to their effectiveness


Incentive Mechanism


Reward value added performance by AVC actors and lenders

Our Mission

To forge partnerships between agriculture and finance; maximizing the potential of agriculture for food security, job creation and economic growth

Our Vision

Transforming the Economy, Delivering Inclusive Growth and Impacting Lives

NIRSAL CRG Portfolio