Government begins process to recapitalise NAIC, NIRSAL

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Ignatius Ayewoh,NAIC,NIRSAL

The federal government says it is committed to the full recapitalisation and commercialisation of the Nigerian Agricultural Insurance

Corporation and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending to ensure their optimal performance.

The acting Director-General of the Bureau of Public Enterprises , Ignatius Ayewoh, stated this yesterday during the inauguration of the Project Delivery Team tasked with the recapitalisation and full commercialisation of the two agencies. Highlighting the importance of the initiative for Nigeria’s agricultural sector, Ayewoh said: “Our goal is to create a strong, efficient, and well-managed organization that will mitigate risks in the agricultural value chain, ensuring a secure environment for farmers and investors alike.”

The Managing Director, NIRSAL, Abbas Masanawa, said that insurance was only a pillar among the five key pillars of NIRSAL. He listed risk sharing, technical Assistance, rating Mechanism and bank incentive mechanism as the others. He assured the PDT of NIRSAL’s unwavering support in achieving the “food security” goals of the federal government.Before flagging, please keep in mind that Disqus does not moderate communities.

The Nigerian Maritime Administration and Safety Agency has launched the reviewed minimum wage document for Nigerian Seafarers, developed in line with the provisions of the Maritime Labour Convention 2006. Platform Petroleum has announced its plans to invest a billion dollar in expanding its operations, targeting the production of 10,000 barrel

 

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