Nigeria Incentive-Based Risk Sharing System for Agricultural Lending(NIRSAL. Plc), has introduced the ‘Agro-Geo-Cooperatives’, to aid farmers boost agriculture and gain easy access to financing.
In doing so, NIRSAL noted that the scheme would be effective after the country resumes, post Covid-19.
A Public Notary Analyst, Nantim Joseph, said in a statement yesterday, that the scheme was initially introduced in 2019, however it has been upgraded as a result of the Covid-19 outbreak.
He said farmers would be grouped, according to the contiguity of their farmlands, with each farmer retaining what is originally theirs. They would become partakers in large, structured farming projects.
He said: “The AgroGeoCoop-based farming model is a unique system that groups adjoining farmlands in geographical areas that have been identified as being suited for specific commodities. It is an improvement on the sub-optimal practice of smallholder farming on small, unconnected parcels of land.
“Its unique Geo or farmland-based cooperative approach facilitates the agglomeration of large parcels of farmlands which makes it possible to introduce Precision Agriculture tools (Remote Sensing, Deployment of Unmanned Aerial Systems, satellite-based Global Positioning Systems etc) resulting in the optimisation of results.”