Forex ban on food items will boost agribusiness locally – NIRSAL

The ban on foreign exchange for the importation of the food items by the Central Bank of Nigeria from all official sources will improve crops productivity and help empower local farmers, the Managing Director of the Nigerian Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), Mr. Aliyu Abdulhameed has said.

Speaking yesterday at the end of the investment workshop between NIRSAL and German Agribusiness Alliance (GAA) for local farmers in Abuja, Abdulhameed said the policy was made in good faith and it coincide with what NIRSAL has been preaching for a very long time.


The workshop was as a result of the partnership between NIRSAL and GAA to bring equipment, technology and standard for Nigerian farmers.

He said Nigerian farmers need to be empowering in all ramification. What NIRSAL is doing today is to ensure that all the risk in crops production has been eliminated or reduce to its minimal to ensure that farmers get good returns.

He said the government leaders of Nigeria and German have been engaging each other on this partnership and the result is what NIRSAL and GAA is implementing.

H said after the workshop, the two partners will sign a framework of understanding that will facilitate the broader agreement to be signed later.

The leader of German delegations, Frank Nordman, said the whole idea is to assist Nigerian farmers to be able to produce enough food for the consumption of about 200 million local population as well as meeting European standard for food item export to Europe and other countries.



Download Daily Trust News App

Get it on Google Play
Share this article

Dear Esteemed reader,

As part of our drive to keep improving the content of our newspaper, we are conducting a readership survey to enable us serve you better

Kindly take two minutes of your time to fill in this questionnaire.

Thank you for your time.

Join us on

Share your story with us: 08189301900 (Whatsapp and SMS only) Email:

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.