The Federal Government, through the National Social Investment Programme Agency (NSIPA), has disclosed plans to partner with NIRSAL PLC to make repayment of FarmerMoni loans under the Government Enterprise and Empowerment Programme (GEEP) easier and more sustainable for beneficiaries.
This was made known in a statement issued on Friday in Abuja, following a courtesy visit by Ibrahim Hamza Baba, National Programme Manager of GEEP, to the Managing Director and Chief Executive Officer of NIRSAL PLC, Mr. Saad Hamidu.
The visit was aimed at exploring areas of collaboration that would strengthen the FarmerMoni ecosystem, reduce risks for beneficiaries, and support smallholder farmers and small businesses across Nigeria.
According to the release, discussions centred on improving risk management and sustainability for GEEP beneficiaries, while also building stronger cooperation between government institutions involved in enterprise and agricultural financing.
Both parties agreed to explore collaboration in several priority areas designed to ease loan repayment pressure and improve programme outcomes:
- Credit risk guarantees and co-financing through NIRSAL’s risk-sharing instruments to reduce lending risks for FarmerMoni beneficiaries.
- Data sharing and enumeration to align beneficiary information, improve registration processes and strengthen digital records.
- Capacity building and technical assistance via joint training programmes for beneficiaries and field agents to improve productivity, financial literacy and creditworthiness.
- Input supply and market access to connect beneficiaries with input suppliers, off-takers and aggregation or market channels.
- Monitoring, evaluation and digital platforms to integrate oversight frameworks and digital tools that improve transparency and impact measurement.
- Policy advocacy and regulatory alignment through coordinated engagement with stakeholders.
Speaking during the meeting, Mr. Hamidu said, “NIRSAL is committed to partnering with GEEP to combine our risk-sharing products, technical expertise and market linkages to strengthen the FarmerMoni value chain and expand sustainable access to finance for smallholder farmers.”
Mr. Baba welcomed the proposed partnership, saying, “This collaboration can combine NIRSAL’s insurance and risk management solutions with FarmerMoni’s grassroots distribution and beneficiary network to deliver a comprehensive package nationwide.”
Both parties agreed to form a joint technical working group ahead of a formal Memorandum of Understanding agreement process.
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